Allianz completes $330m Aviva Italia purchase

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Allianz has completed the €330million acquisition of Aviva Italia SpA that was first announced in March 2021.

Allianz said the acquisition strengthens its position in the Italian P&C insurance market, where it is the third-largest insurer.

The move will increase its market share by one percentage point.

The acquired portfolio is split between motor and non-motor business, generating gross written premiums of about €400m.

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