Allianz Set to Buy Aviva Italia for EUR330 Million
04 Março 2021 - 5:14AM
Dow Jones News
By Joshua Stein
Allianz SE said Thursday that it has agreed to buy Aviva PLC's
Italian property-and-casualty branch, Aviva Italia SpA, for 330
million euros ($398.1 million).
The deal will allow Allianz to consolidate its position as the
third-biggest player in the Italian property-and-casualty market,
the German insurer said. In acquiring the business, Allianz will
get almost 500 agents.
Allianz expects to complete the deal in the second half of
2021.
Aviva Italia has gross written premiums of around EUR400
million, with a portfolio equally distributed between motor and
non-motor business segments, Allianz said.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
March 04, 2021 02:59 ET (07:59 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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