A month ago Allianz made headlines after it was named as the likely buyer of the general insurance (GI) business of British financial services giant Legal & General Group Plc. Now it’s confirmed: Allianz UK is snapping up Legal & General Insurance Limited for £242 million.
Subject to regulatory approvals, the transaction will see 100% of the GI arm become part of Munich-headquartered Allianz, with the Legal & General brand to still be used in the UK market for up to three years as part of their agreement.
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