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Regulator approves Allianz purchase of Czech insurers

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The Czech Republic’s competition regulator has approved Allianz Pojistovna a.s.'s acquisition of two Czech insurance businesses from German financial group Wustenrot & Wurttembergische A.G., reports Xprimm.com citing Autofox.cz.

Media reports said that the merger would help Allianz sell its insurance products through Wustenrot's banking network. "This is a strategic takeover of companies whose products are close to ours and which also have the same business philosophy", said an Allianz official.

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