Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018
Rival bidders eye up LV= insurance GI business
- 11 August 2017
Private equity houses and at least one other trade buyer are now circling LV= after Allianz submitted a £500mn ($649mn) bid for a 49 percent stake in the mutual's general insurance (GI) business, The Insurance Insider understands.
Banking sources said UK motor insurer esure, led by chairman Peter Wood, is one trade buyer considering a counterbid for the stake.
Allianz announced the acquisition plans last week. On top of the £500mn offer, the agreement had a provision for Allianz to...
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