Allianz Completes Acquisition of Dutch Insurer from Hartford

AGF, the French subsidiary of Germany’s Allianz, announced that it had completed the acquisition of Dutch insurer Zwolsche Algemeene N.V.(ZANV) from the Hartford International Financial Services Group, substantially increasing the Allianz Group’s share of Holland’s insurance market.

In 1999 ZANV had gross premiums written of €383 million ($325 million), roughly 54 percent from p/c and health insurance sales through brokers.

Combined with Royal Nederland Verzekeringsgroep N.V., which has been part of AGF since 1998, Allianz will rank third in the Dutch p/c market, 12th in the life market, and will enter the health insurance and asset management field.

Topics Mergers & Acquisitions Carriers