Allianz to acquire legal protection businesses from ERGO
Allianz Group is to acquire the legal protection insurance subsidiary DAS Switzerland and assets of DAS Luxembourg and Slovakia from German insurance group ERGO Group.
The insurer said the acquisition will strengthen the competitive position of Allianz Suisse, making it one of the top three firms offering legal protection coverage in Switzerland.
The combined premium income from the three ERGO subsidiaries totalled €38 million in 2016.
“Our aim with this merger is to utilize growth opportunities in the non-life business and further strengthen our competitive position. This will enable us to create the best conditions for our customers and place us in an excellent position in this growth market,” said Severin Moser, CEO of Allianz Suisse.
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