LV is reported to be in talks with German giant Allianz to sell part of its business as the UK insurer seeks to boost its capital. A number of trade, pension and sovereign wealth funds have approached LV, with one analyst indicating its general insurance operations would be worth more than £1bn, reports added. The deal would see LVMH take a stake in Allianz’s insurance arm, which has been struggling since it was taken over by US private equity firm Cerberus last year. The company has been approached by a number of trade, pension and sovereign wealth funds, according to reports, with one analyst valuing LV's general insurance operations at £1bn.
LV is reported to be in talks with German giant Allianz to sell part of its business as the UK insurer seeks to boost its capital. The deal would see LVMH take a stake in Allianz’s insurance arm, which has been struggling since it was taken over by US private equity firm Cerberus last year. The company has been approached by a number of trade, pension and sovereign wealth funds, according to reports, with one analyst valuing LV's general insurance operations at £1bn.