Strengthens position as a leading provider of legal protection coverage in Switzerland
Allianz Group has acquired the legal protection insurance subsidiary DAS Switzerland, making it one of the top three firms offering legal protection coverage in Switzerland.
Allianz Suisse has agreed to acquire the legal protection subsidiary, along with assets of DAS Luxembourg and Slovakia, from Ergo Group AG.
Allianz Suisse chief executive Severin Moser said: “Our aim with this merger is to utilize growth opportunities in the non-life business and further strengthen our competitive position. This will enable us to create the best conditions for our customers and place us in an excellent position in this growth market”
The combined premium income from the three Ergo subsidiaries was €38m in 2016.
The transaction is scheduled to complete in April, pending regulatory approval.