Catrin Shi 11 August 2017 Private equity houses and at least one other trade buyer are now circling LV= after Allianz submitted a £500mn ($649mn) bid for a 49 percent stake in the mutual's general insurance (GI) business, The Insurance Insider understands. Banking sources said UK motor insurer esure, led by chairman Peter Wood, is one trade buyer considering a counterbid for the stake. Allianz announced the acquisition plans last week. On top of the £500mn offer, the agreement had a provision for Allianz to... If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership
UK motor insurer esure is said to be one trade buyer considering a counter-bid for a stake in LV=, according to bank sources cited by Allianz . Allianz submitted a £ $649m m ( 500 ) bid for a 49 percent stake in the mutual's general insurance business August 2017 .