Allianz Group and LV= have launched a strategic partnership in the UK, creating a general insurance business with over 6 million customers and gross premiums written in excess of £1.7 billion.
LV= said the deal would strengthen its capital position, leaving the insurer "well placed to continue to expand [the] Life and Pensions business and pursue new digital opportunities." The transaction also strengthens Allianz's position in the commercial market where it has over £1 billion in annual income. LV= will receive £500 million from Allianz in exchange for a 49% stake in LV='s General Insurance businesses. The new, long-term joint venture will acquire Allianz's personal home...
There will be no further increases to Insurance Premium Tax (IPT) this year, the Autumn Budget 2017 has revealed.
The government will immediately give NHS trusts £350 million to allow them to plan for the winter, Chancellor Philip Hammond has announced in the Autumn Budget.
British Friendly has introduced an online Adviser Toolkit to encourage income protection sales.
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.