Allianz acquires Westpac’s general insurance arm
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Germany-based insurer Allianz SE has acquired Australia-based Westpac Banking Corp.’s general insurance business for $725 million Australian ($535 million), Reuters reported. The transaction, which is expected to close in the second half of 2021, includes a 20-year deal under which Allianz will distribute general insurance policies to Westpac customers.
