MHLD Maiden Holdings Ltd

   By Stephen Nakrosis 
 

Maiden Holdings, Ltd. (MHLD) on Wednesday announced the sale of AVS Automotive VersicherungsService GmbH and related European subsidiaries to Allianz Partners.

Maiden Holdings will receive an undisclosed cash payment at closing and a three-year quota share reinsurance agreement with Allianz, the company said.

The groups work with German and Austrian auto retailers, original equipment manufacturers and related credit providers to design and distribute auto dealer and consumer insurance products, the company said.

Maiden Holdings also said their AVS employees have joined Allianz and the company name will remain unchanged.

Maiden Holdings is a Bermuda-based insurance company.

Allianz Partners is an insurance company and part of Allianz SE (ALIZF).

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 16, 2019 17:38 ET (22:38 GMT)

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