Allianz to acquire Tua Assicurazioni

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Allianz S.p.A. today announced it has agreed to acquire Tua Assicurazioni S.p.A. from Assicurazioni Generali S.p.A. for a consideration of 280 million euros.

Tua Assicurazioni has a profitable property and casualty (P/C) insurance portfolio with overall gross written premiums of about 280 million euros in 2022, mainly managed via a distribution network of almost 500 agents.

The transaction is subject to regulatory approvals, expected at the beginning of 2024. Upon completion, Allianz S.p.A.’s P/C market share in Italy is expected to increase by approximately 1 percentage point, consolidating its position as the #3 player in the Italian P/C market. 

Thanks to its strong focus on customer centrality and distribution excellence, Allianz will ensure a smooth transition for clients, employees and agents while realizing benefits of scale. 

Giacomo Campora, CEO Allianz S.p.A., commented: "The acquisition of Tua assicurazioni perfectly fits within our strategy, growing our footprint in P/C with a focus on retail and SMEs.  Since 2014 we have been successfully integrating three large groups of professional agents (Milano, SASA and recently Aviva), thanks to the depth and breadth of our products and the modern and efficient technical platform. We are confident that the new agents and their clients will benefit from joining Allianz. "

 

In Italy, Allianz S.p.A. is one of the leading insurers with approximately 4,700 employees serving more than 8 million customers through a multichannel distribution model. Allianz already strengthened its presence in Italy in 2021 by acquiring the Italian P/C entity of Aviva Group, rebranded Allianz Viva S.p.A.
The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 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 insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 746 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 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 among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of March 31, 2024.

Press contacts

Holger Klotz
Allianz SE
Fabrizio Tolotti
Allianz SE
Johanna Oltmann
Allianz SE
Carlo Rossanigo
Allianz S.p.A.
Francesca Douglas Flaminio
Allianz S.p.A.
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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