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EU: Top insurer inks $612M merger

By  |  March 17, 2014

Germany-based Allianz, the largest insurer in Europe, has reportedly inked a deal to acquire Italian rival Unipol Gruppo Finanziario in a $612 million acquisition.

Reports say Allianz will acquire Unipol’s portfolio, agencies and employees for a merger that follows Unipol’s acquisition of domestic competitor Fondiaria.

That earlier acquisition required divestitures on Unipol’s part, say reports. The company described Italian antitrust regulators’ orders as “extraordinarily stringent.”

Full Content: Bloomberg

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