find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Allens advises on $93m insurance deal

Allens advises on $93m insurance deal

Allens Arthur Robinson has advised Germany's third-largest insurance provider, Talanx Group, on a strategic Vietnamese partnership.

Allens Arthur Robinson has advised Germany's third-largest insurance provider, Talanx Group, on a US$93 million ($89m) strategic Vietnamese partnership with insurer PVI Holdings.


The Talanx Group is the eleventh-largest insurance group in Europe, with income of about US$33 billion in 2010.


PVI Holdings, formerly PetroVietnam Insurance Joint Stock Corporation, is a leading non-life and industrial insurer in Vietnam, with a gross written premium in 2010 of about US$183 million.


Under the agreement, which was signed in Hanoi this week, Talanx subsidiary HDI-Gerling Industrie Versicherung AG will acquire a 25 per cent stake of the enlarged share capital of PVI Holdings and will become its foreign strategic insurance partner.


Allens partners Nigel Russell and Marae Ciantar and senior associate Ian Stewart, led the firm's team, which spanned the firm's offices in Singapore and Vietnam.


Stewart led the negotiations in Hanoi alongside the Talanx team. He said: "Subject to the necessary local regulatory approvals being met, the deal will provide Talanx with an excellent platform in the rapidly growing Vietnamese market."


Stewart said the strategic alliance between Talanx and PVI Holdings will allow these organisations to work closely together to support PVI’s business development, further enhance the financial strength of PVI, and provide a full range of services to their clients in the region.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017


Allens advises on $93m insurance deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...