Rival bidders eye up LV= insurance GI business

Private equity houses and at least one other trade buyer are now
circling LV= after Allianz submitted a £500mn ($649mn) bid for
a 49 percent stake in the mutual's general insurance (GI)
business, The Insurance Insider
understands.
Banking sources said UK motor insurer esure, led by CEO Peter
Wood, is one trade buyer considering a counterbid for the
stake.
Allianz announced the acquisition planslast week. On top of the £500mn offer, the agreement had a
provision for Allianz to...