Maiden Holdings Sells European Automotive Group AVS to Allianz Partners
January 16 2019 - 5:53PM
Dow Jones News
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)
Copyright (c) 2019 Dow Jones & Company, Inc.
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