Brokers concerned about reduced choice following Allianz and LV deal
However, experts also see opportunities rising from the merger.
Following the announcement from Allianz that it has bought 49% of LV’s general insurance business, brokers have stated that the coming together of the two providers will reduce choice in the personal lines market.
Allianz noted that the move will see the insurers join forces to create a £1.7bn premium personal lines business under the LV brand, with the insurer planning to own 69.9% long term, paying £713m in total.
While brokers were not surprised by the deal, following market speculation
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