It was in December 2017 that Allianz UK bought 49% of LV= General Insurance (LV=GI) from Liverpool Victoria Friendly Society (LV=) for £500 million. Now it’s been announced that the former is purchasing the mutual’s remaining shareholding to become sole owner of LV=GI.
As previously reported by Insurance Business, the second stage of that transaction will see Allianz paying an additional £213 million this year for a further 20.9% stake – leaving LV= with a residual 30.1% shareholding for which it had a put option that could result in the sale of its remaining shares.
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