Allianz buys remaining share of LV= General Insurance

For up to £365m

Adam Saville
clock • 1 min read

Allianz to own 100% LV=GI following transaction worth £1.078bn

LV= has agreed to sell its remaining 30.1% stake in LV= GI to Allianz Group after 49% was bought in December 2017. The latest sale, worth £365m, sees the withdrawal of LV= from its general insurance partnership with Allianz. Allianz acquired the initial stake for £500m and the second stage of the transaction will take place at the end of 2019 where Allianz will pay £213m for a further 20.9% through an agreed forward purchase. The overall sale, which will close on 31 December 2019, will cost Allianz a total of £1.078bn. Following completion, Alan Cook, Richard Rowney, David Neave...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Insurer

The COVER Review: Acquisitions, healthcare and awards

The COVER Review: Acquisitions, healthcare and awards

Week commencing 30 June 2025

COVER
clock 04 July 2025 • 1 min read
Medicash sees 21% rise in premium income

Medicash sees 21% rise in premium income

Total number of policyholders up 9%

Jaskeet Briah
clock 03 July 2025 • 1 min read
HSBC Life UK to be acquired in £260m deal

HSBC Life UK to be acquired in £260m deal

Chesnara buys business

Jenna Brown
clock 03 July 2025 • 2 min read