Allianz’s £242 Million Acquisition Of Legal & General Insurance Limited

Slaughter and May advised Allianz on its acquisition of Legal & General Insurance Limited, the general insurance business of Legal & General Group Plc, for £242 million.

Legal & General Insurance Limited is an established and successful provider of personal home insurance products in the UK. The business generated £410 million of gross written premiums in 2018.

Allianz combined the Legal & General general insurance business with LV General Insurance Group (“LVGIG”). Together with Allianz’s acquisition of the remaining 51 per cent. of LVGIG, these transactions established Allianz as a top 4 insurer in the UK personal home segment and mean that 12 million general insurance customers are part of Allianz in the UK.

The Allianz internal legal team included Petra Maerkl, Alexander Franz, Steve Hutchings, Tracy Beicken, Andy Cottrell and Emma Baker.

The Slaughter and May team was composed by corporate partner Craig Cleaver (Picture), Nick Pacheco (partner), Oliver Broomfield (associate), Thomas Peacock (associate), Valerie Kemp (associate), Christopher Koay (associate), Elissa Foord (trainee solicitor); Competition: Kerry O’Connell (partner), Naomi Burgoyne (associate); Financial Regulation: Ben Kingsley (partner), Tim Fosh (associate), Tom Hilton-Stevens (associate); IP&IT: David Ives (partner), Matthew Harman (associate); Tax: Gareth Miles (partner), Kyle O’Sullivan (associate).

Involved fees earner: Oliver Broomfield – Slaughter and May; Naomi Burgoyne – Slaughter and May; Craig Cleaver – Slaughter and May; Elissa Foord – Slaughter and May; Tim Fosh – Slaughter and May; Matthew Harman – Slaughter and May; Tom Hilton-Stevens – Slaughter and May; David Ives – Slaughter and May; Valerie Kemp – Slaughter and May; Ben Kingsley – Slaughter and May; Christopher Koay – Slaughter and May; Gareth Miles – Slaughter and May; Kerry O’Connell – Slaughter and May; Kyle O’Sullivan – Slaughter and May; Nick Pacheco – Slaughter and May; Thomas Peacock – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Allianz;