Allianz has taken over the general aviation business of Cox Insurance Holdings.
Under the agreement Allianz will reinsure the 2002 underwriting portfolio from 1 January 2002.
Cox will also release Emilio Di Silvio, Anthony Prokopiou, John Bowman and Alex Seymour Cox's to Allianz Marine & Aviation in London on 1 October 2002.
Cox Chief Executive Michael Dawson said: "The transfer of our General Aviation Business is in line with our stated strategy and allows us to further concentrate on our profitable personal lines operations."
Allianz Marine & Aviation is based in Germany, France and the UK and has a gross premium income of €1.3bn.
