Allianz Life announced today that it has completed the reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35-billion fixed index annuity portfolio.
Allianz will expand its current strategy to realize the value of its global scale for customers and shareholders. The ambitious targets underscore confidence in earnings power and ability to accelerate growth. Continued focus on purpose, talent, simplicity, and sustainability as performance levers.
Allianz Life reinsures $35 billion of liabilities of fixed index annuity book in one of the largest transactions of its kind. The agreement underscores shared values of flexibility, ability to scale, risk management, and commitment to policyholders. The transaction is expected to improve return on equity and strengthen regulatory capital position for Allianz Group.
Allianz announces today that it has completed the acquisition of the Aviva Group’s operations in Poland and Lithuania. The transaction, announced on March 26 this year, is Allianz’s largest deal globally in a decade.
Allianz China Life Insurance Co., Ltd. ("Allianz China Life") has received approval from the Shanghai Regulatory Bureau of the China Banking and Insurance Regulatory Commission to transfer the 49% shareholdings owned by CITIC Trust Co., Ltd to Allianz (China) Insurance Holding Co., Ltd. (“Allianz China Holding”). Upon completion, Allianz China Life will become a 100%-owned subsidiary of Allianz China Holding, and the first wholly foreign-owned life insurance company in China developed from a joint venture.
For the third consecutive quarter in 2021, the Allianz Group has delivered a strong operating performance across all business segments. This demonstrates that our business model is well-positioned to leverage the opportunities arising from a recovery in the global economic environment and in financial markets. In the first nine months of 2021, the Group has achieved 82 percent of the operating profit target of 12 billion euros for the year, driven by all three business lines.
CLARK will integrate Allianz X portfolio company finanzen Group, thereby becoming one of the world’s largest insurtechs. Allianz X will receive cash and equity in CLARK, becoming its largest minority shareholder. Customers and business partners of finanzen Group and CLARK can be confident in the maintenance and strengthening of services.
Allianz, one of the world’s leading insurers and asset managers, became the majority shareholder in Jubilee Insurance Company of Uganda Limited after completing the transaction to acquire a 66% stake in the company from Jubilee Holdings Limited (JHL), East Africa’s largest insurance group. The stake acquired by Allianz represents 29,700,000 ordinary shares of Jubilee Insurance Company of Uganda. JHL will retain a 34% stake, or 15,300,000 ordinary shares, in the company.
