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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Allianz Ag Muenchen Namen (PK) | USOTC:ALIZF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.128 | 0.04% | 290.128 | 277.15 | 295.00 | 290.128 | 290.128 | 290.128 | 4 | 21:20:00 |
From Jul 2019 to Jul 2024
By Adria Calatayud
Insurers Allianz SE (ALV.XE) and Liverpool Victoria said Friday they have agreed to form a new 1.02 billion pound ($1.34 billion) joint venture for the British market using the LV= brand.
The joint venture will be the U.K.'s third-largest personal insurer with more than six million customers and an annual premium income in excess of GBP1.7 billion, the companies said.
Initially, Allianz will have a 49% share in the venture for which it will pay GBP500 million, increasing to 69.9% in 2019 when the German insurer will pay GBP213 million for the extra 20.9% stake.
LV='s current Managing Director of General Insurance Steve Treloar will run the joint venture, reporting to a board drawn from Allianz and LV=.
Write to Adria Calatayud at adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
August 04, 2017 05:44 ET (09:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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