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Industry reaction to Allianz mega deals: “The race for scale continues”
INSURANCE BUSINESS UK – May 31, 2019 was one of the biggest days in British general insurance in recent years, with Germany’s Allianz revealing at 7am BST its double swoop for the entire general insurance businesses of UK-based Legal & General and LV=.Insurance Business was among the first to report on the mega deals, and now we bring you some industry reaction following the twin announcements.
“More consolidation in the market is not surprising – the race for scale continues”, asserted Novidea managing director Ben Potts. “How successful the deal is will depend in no small way on the technology landscape of the businesses and their integration.”