Investment - Articles - LV= complete sale of stake in their GI business to Allianz

 The venture creates a general insurance business with over 6 million customers and gross premiums written in excess of £1.7 billion. It allows Allianz and LV= to take a leading role in the growing UK retail sector by creating a strong and customer-centric insurer in the personal home and motor insurance markets.

  

 The second stage of the transaction will take place in 2019 when Allianz will pay an additional £213 million for a further 20.9 percent stake in LV= GI through an agreed, forward purchase based on a total valuation of £1.020 billion for 100 percent of LV= GI. As announced in August, LV= has a put option under which it can sell all or part of its remaining shares to Allianz at any time.
  

 • Acquisition of 49 percent stake in LV=’s UK General Insurance businesses by Allianz Group is now completed
 • Transaction creates third-largest personal insurer in the UK market
 • Allianz to pay another £213 million for a further 20.9 percent stake in LV= GI in 2019