Following media reports insurer LV= has confirmed that it is in advanced talks with Allianz over the potential sale of a “significant minority stake” in its general insurance business.
The British insurance company announced today that discussions with Germany-based insurer Allianz are ongoing, but stressed that there’s no certainty any deal will be reached, or any certainty surrounding any potential terms of such a transaction.
Industry reports claim the two are close to agreeing a deal, valuing LV=’s general insurance unit at roughly £1 billion, and that it could be announced as early as the end of this week.
LV= has said that it will provide an update on any proceedings if and when it is appropriate.
