The insurer holds a 6.4% stake in Jelf
The sale of Jelf to Marsh looks set to earn Allianz a £13.8m windfall, with the insurer holding a 6.4% in the broking group.
Insurance Times broke the story earlier this morning that Marsh had entered in to talks with Jelf about a takeover of the £178m worth firm.
Allianz has held a 6.4% stake in Jelf since 2007, originally costing them £3.25m.
At Jelf’s current share price, their stake is worth £13.8m, an increase of 324%