Allianz Forks Over $612M For Unipol Portfolio

Law360, New York (March 17, 2014, 12:47 PM EDT) -- German insurance giant Allianz SE has agreed to acquire Italian insurer UnipolSai Assicurazioni SpA's property and casualty business for €440 million ($612.8 million), bolstering its share in the profitable Italian market, Allianz announced Saturday.

UnipolSai, which is a unit of Unipol Gruppo Finanziario SpA, is handing to Munich-based Allianz a property and casualty portfolio that includes premiums worth €1.1 billion, 729 agencies and 500 employees serving approximately 1.5 million customers in Italy. The assets previously belonged to the former Milano Assicurazioni SpA, which merged into UnipolSai Assicurazioni,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.