Allianz to buy business from Italy's UnipolSaiMarch 16, 2014 @ 3:20 am (Updated: 3:30 am - 3/16/14 )
BERLIN (AP) — Germany's Allianz SE is to buy part of Italian insurer UnipolSai's property and casualty insurance business in a deal worth up to 440 million euros ($612 million).
Allianz said in a statement late Saturday that the business had premiums last year of 1.1 billion euros and has 500 employees serving 1.5 million customers in Italy.
Allianz board member Oliver Baete said the deal "enables us to grow our market share in a very mature but highly profitable market."
The deal requires regulatory approval.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Jason Rantz says it's the Seattle DOT that's to blame for our awful commutes
Just in time for Halloween, western Washington spider season in full effect
10 reasons we know you're a Seattle driver
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.