Munich Re has acquired 100 percent of the shares of Allfinanz, a software company headquartered in Dublin, for $70.1 million in cash. Allfinanz is a provider of Web-based business processing and underwriting automation software to the life insurance industry.

The acquisition follows on from the implementation of a global marketing and cooperation agreement between Allfinanz and Munich Re, which started earlier this year. By combining Munich Re's expert underwriting rules and reinsurance services with Allfinanz's software solutions, life insurers throughout the world have access to technology that will enable them to process large volumes of business more efficiently.

In addition to increased efficiencies, insurers can expect greater analysis of their business data and processes leading to improvements to the underwriting rules and feedback on many measures impacting insurers' profitability.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.