Allianz SE
Group Communications and Reputation
Media Release
Allianz completes acquisition of Aviva Italia S.p.A.
- Acquisition strengthens Allianz's position in Italy's P&C market
- Transaction worth about 330 million euros was announced in March 2021
Munich, October 1, 2021
Allianz S.p.A., the Italian holding company of the Allianz Group, announced today that it has successfully closed the transaction to acquire Aviva Italia S.p.A., the Italian property & casualty (P&C) insurance entity of the Aviva Group, from Aviva Italia Holding S.p.A.
The transaction, which is worth about 330 million euros, was announced in March 2021. It involved a portfolio equally distributed between motor and non-motor business segments with gross written premiums of about 400 million euros.
The completion of the transaction further strengthens Allianz S.p.A.'s No.3 position in the Italian P&C insurance industry, increasing the company's market share by approximately one percentage point.
For further information please contact:
Holger Klotz | Tel. +49 89 3800 90921, e-mail:holger.klotz@allianz.com |
Kirti Pandey | Tel. +49 89 3800 16255, e-mail:kirti.pandey@allianz.com |
Carlo Rossanigo | Tel. +39 02 7216 3310, e-mail:carlo.rossanigo@allianz.it |
About Allianz S.p.A
In Italy, Allianz S.p.A. is one of the leading insurers with approximately 4,500 employees serving over 7 million customers through a multichannel distribution model. Allianz already strengthened its presence in Italy in 2014 by acquiring an important property and casualty insurance portfolio and agent network from UnipolSai.
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million1 private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit
1 Including non-consolidated entities with Allianz customers.
Allianz SE | Chairman of the Supervisory Board: Michael Diekmann. Board of Management: Oliver | |
Koeniginstr. 28 | Bäte, Chairman; Sergio Balbinot, Andreas Wimmer, Dr. Barbara Karuth-Zelle, | |
80802 Munich; Germany | Dr. Klaus-Peter Röhler, Ivan de la Sota, Giulio Terzariol, Dr. Günther Thallinger, | |
Phone: +49 89 3800 18475 | Christopher Townsend, Renate Wagner (Release / Stand 10.2021). For VAT-Purposes: | |
Fax: +49 89 3800 2114 | VAT-Registration Number: DE 129 274 114; Insurance services are exempt from VAT. | |
www.allianz.com/news | Allianz SE, Munich, Comm.Reg.: Munich HRB 164232 |
insurance and global business insurance. Allianz is one of the world's largest investors, managing around 793 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage more than 1.8 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2020, over 150,000 employees achieved total revenues of 140 billion euros and an operating profit of 10.8 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward- looking statements.
Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including and related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
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Allianz SE published this content on 01 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2021 08:11:06 UTC.