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Allianz, Volkswagen Financial launch car insurance JV
September 26, 2012 / 9:17 AM / 5 years ago

Allianz, Volkswagen Financial launch car insurance JV

FRANKFURT, Sept 26 (Reuters) - Allianz SE and Volkswagen Financial Services AG are forming a joint venture to sell car insurance to VW customers that the two companies plan to roll out worldwide, they said on Wednesday.

The joint venture, called Volkswagen Autoversicherung AG, is set to begin operations on April 1, 2013 and will offer VW customers to chance to obtain their car, financing, insurance and guarantee as a single package, Allianz and Volkswagen Financial said.

Allianz will hold 51 percent of the voting rights and 49 percent of the capital in the joint venture, while VW Financial will hold 51 percent of the capital and 49 percent of the voting rights. (Reporting by Jonathan Gould)

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