Allianz sells British Reserve Insurance Company
Allianz Statement on the sale of British Reserve Insurance Company:
Allianz Insurance plc (Allianz Insurance) has agreed to the sale of British Reserve Insurance Company Limited (BRIC) to Marco Capital Holdings Limited, a European P&C run-off group. This agreement aligns with our strategy of simplifying our business.
Allianz Insurance purchased BRIC and its musical insurance portfolio in 1997. BRIC then continued to underwrite Allianz musical insurance products until 2014, when Allianz Insurance began to underwrite the policies directly. Since then BRIC has been in run-off.
The transaction is subject to regulatory approval.
Authored by Allianz
About Allianz
Allianz Insurance is one of the largest general insurers in the UK and part of the Allianz Group, a leading integrated financial services provider and the largest property and casualty insurer in the world.
The mission of Allianz Insurance is to be the outstanding competitor in our chosen markets by delivering products and services that our clients recommend, being a great company to work for and achieving the best combination of profit and growth. We aim to achieve this by putting the customer at the heart of everything we do.
Allianz is able to offer customers a wide range of products and services including home and motor and commercial insurance with full range of products and service for sole traders' right up to large commercial organisations.
Allianz Insurance employs over 4,500 people across a network of 20 offices in the UK and the company’s Head Office is situated in Guildford, Surrey. Our heritage and financial strength help make Allianz what it is today; a safe and trusted partner. Over 40 FTSE100 companies partner with Allianz. youTalk-insurance sharing Allianz Insurance news and video