Today, Allianz SE announced that it has closed the sale of its 50 percent stake in UniCredit Allianz Vita SpA, the life insurance joint venture with UniCredit Group in Italy, to UniCredit for a total consideration of approx. 0.8 billion euros. Allianz will record a gain of approx. 0.2 billion euros on the sale, and the impact on Allianz’s Group Solvency II ratio is expected to be approx. +1 percentage point.
The transaction was originally announced in September 2024 and follows the existing agreement with UniCredit under which UniCredit decided to exercise its right to acquire all shares in UniCredit Allianz Vita SpA.
This transaction does not affect Allianz’s and UniCredit’s successful non-life joint venture in Italy, UniCredit Allianz Assicurazioni SpA, or any other partnerships between the two companies.