Advertisement
UK markets closed

  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     

  • FTSE 250

    20,164.54
    +112.21 (+0.56%)
     

  • AIM

    771.53
    +3.42 (+0.45%)
     

  • GBP/EUR

    1.1652
    -0.0031 (-0.26%)
     

  • GBP/USD

    1.2546
    +0.0013 (+0.11%)
     

  • Bitcoin GBP

    50,177.90
    +2,959.56 (+6.27%)
     

  • CMC Crypto 200

    1,358.09
    +81.11 (+6.35%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +450.02 (+1.18%)
     

  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     

  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • HANG SENG

    18,475.92
    +268.79 (+1.48%)
     

  • DAX

    18,001.60
    +105.10 (+0.59%)
     

  • CAC 40

    7,957.57
    +42.92 (+0.54%)
     
MONEY:

Best savings accounts that offer above inflation rates

Where to find a top-rated deal that works for you

Allianz forms JV with LV= to create 3rd largest British P&C insurer

Reuters - UK Focus

FRANKFURT, Aug 4 (Reuters) - German insurance titan Allianz (Swiss: ALV-EUR.SW - news) said on Friday that it had agreed to create a joint venture and strategic partnership with British insurer LV= to form the third-largest property and casualty insurance company in the UK.

Allianz will pay 500 million pounds ($657.35 million) in exchange for a 49 percent stake in LV='s General insurance business, a deal that is expected to close in the second half of this year.

In a second stage, Allianz will pay 213 million pounds for a further 20.9 percent stage taking place in 2019.

($1 = 0.7606 pounds) (Reporting by Tom Sims; Editing by Maria Sheahan)