Allianz sells Fireman's Fund personal lines to ACE
FRANKFURT, Dec 18 (Reuters) - German insurer Allianz on Thursday said it had agreed to sell its Fireman's Fund personal insurance business with high net worth individuals to insurer ACE Ltd. for $365 million.
Europe's largest insurer had said in September it was looking at options for the personal lines business, which it said was profitable, as it restructured the rest of Fireman's Fund.
The personal lines business had nearly $900 million in gross written premiums in 2013 and ranked third among insurers serving the U.S. high net worth consumer market, Allianz and ACE said in separate statements.
(Reporting by Jonathan Gould; editing by Thomas Atkins)
