Jean-Philippe Thierry: We believe that this is a very worthwhile move: AGF is a successful company and plays a decisive role in the Allianz Group. In 2005, around 30 percent of the Allianz Group net income was contributed by AGF. Allianz is a European Company, its home market is Europe, and we therefore want to strengthen our position in France, too.
As an international group, AGF is also successful in other parts of the world, for example in the Benelux countries and in South America. Both aspects - the earnings momentum and the importance of the French market - are fundamental reasons for this move. The integration will also help to further reduce the complexity of our Group.
Jean-Philippe Thierry
"We are strengthening our position in our home market"
Allianz SE today announced its intention to acquire the remaining 42.4 percent of AGF shares. Questions to Jean-Philippe Thierry.
Jean-Philippe Thierry: "AGF plays a decisive role in the Allianz Group"
Mr. Thierry, the buy-out of the AGF shares is a big investment for Allianz. What are the reasons behind this plan?
What effect will this move have on the cooperation between AGF and Allianz Group?
Thierry: AGF and Allianz SE already work closely together in many group-wide initiatives, such as Sustainability and Customer Focus – with a clear focus on profitable growth and good, first successes. The full integration into the Allianz Group and the reduction of complexity in our structures will give this a further boost.
When will this transaction be completed?
Thierry: What we published today is merely a pre-announcement. On February 22, we will inform you about further details. The whole transaction should be completed by spring 2007.
As with all content published on this site, these statements are subject to our Forward-Looking Statement disclaimer, provided on the right.
As with all content published on this site, these statements are subject to our Forward-Looking Statement disclaimer, provided on the right.
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