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


Allianz Group and Liverpool Victoria Friendly Society (LV=) have completed the first stage in the creation of their joint venture and strategic partnership through the planned sale of 49 percent stake in LV=’s UK General Insurance businesses (LV=GI) to Allianz Group.

 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

Back to Index


Similar News to this Story

Comments as IHT hit GBP7bn in last 10 months
Just Group, Hargreaves Lansdown and Quilter comment as HMRC’s latest update on Inheritance Tax (“IHT”) receipts shows that £7.0 billion was collected
Mind the inflation gap
Following a brief period of seven months where returns on cash ISAs beat inflation, they are back into negative territory, meaning savers lose money i
Inflation rises to 3 percent
Standard Life, Aegon AM, Hymans Robertson and Royal London comment as inflation rises to 3 percent

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.