Allianz SE agreed to buy two insurance businesses in the U.K. in deals valued at a combined $1 billion, transforming the firm into the second-biggest general insurer in the country.
The Munich-headquartered company agreed to acquire the general-insurance business of Legal & General Group Plc for 242 million pounds ($305 million), and said it would buy the 51% in LV General Insurance Group that it doesn’t already own, according to statements from Allianz and L&G.
