Maiden Holdings Sale Of European Automotive
Bermuda-based Maiden Holdings announced “another step in its strategic review with the sale of AVS Automotive VersicherungsService GmbH [AVS] and related European subsidiaries to Allianz Partners [Allianz].”
“Maiden’s proceeds from the sale include an undisclosed cash payment at closing and a three-year quota share reinsurance agreement with Allianz,” the company said.
“Maiden’s AVS and AVS subsidiaries work with German and Austrian auto retailers, original equipment manufacturers and related credit providers to design and distribute auto dealer and consumer insurance products. All of Maiden’s AVS employees have joined Allianz and the company name will remain unchanged.”
