AGF, the French subsidiary of Germany’s Allianz, announced that its AGF MAT unit had purchased the remaining 51 percent of Westminster Aviation Insurance Group from France’s Groupama-Gan, giving it 100 percent of the specialist aviation insurance management company.
WAIG is a full service insurer providing underwriting, claims handling services and policy issuing; it “generated a $94 million premium income for 2000. ” The acquisition will further strengthen its already strong position in the aviation insurance market.
There are further expansion plans in the works. “AGF MAT Ltd is the holding company owned by Allianz and AGF under which the group intends to bring together its Marine, Aviation and Transport (MAT) insurance operations, (i.e. AGF MAT, France and Allianz Globus MAT, Germany), thus creating the world’s leading group in international Marine, Aviation and Transport insurance,” said the announcement.
Was this article valuable?
Here are more articles you may enjoy.
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI 
Viewpoint: AI Insurance Is Not Cyber Insurance With Extra Steps 
Tampa Bay Rays and Local Officials Announce Tentative $2.3B Deal for New Ballpark 
Half of Pilots Killed in US Accidents Tested Positive for Drugs 
