East Africa's Jubilee Insurance and Allianz forge strategic partnership

Jubilee Holdings Limited, East Africa’s largest insurance group, and Allianz, one of the world's leading insurers and asset managers, have signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates.

Allianz Benelux and Monument Re announce closed book portfolio transaction

Allianz Benelux (Belgium) and Monument Re have agreed today to transfer a closed book of classical life retail insurances together with 4,500 mortgage loans to Monument Assurance Belgium (MAB) and to transfer the related operations within 18 months after regulatory approvals. The transaction includes a portfolio of 95,000 policies with technical provisions of 1.4 billion euros under Solvency II.

Allianz achieves 2.6 billion euros operating profit in 2Q 2020

Internal revenue growth, which adjusts for currency and consolidation effects, amounted to -7.7 percent in the second quarter of 2020, mostly driven by the Life/Health business segment. Total revenues decreased 6.8 percent to 30.9 billion euros in the second quarter of 2020.

Allianz completes acquisition of automobile and other Property-Casualty business from SulAmérica

Allianz has closed the acquisition of the automobile and other Property & Casualty business from SulAmérica. This follows the announcement of the deal on August 23, 2019. The transaction enlarges the service offering for customers and grows Allianz’s geographical footprint in Brazil.

Allianz reports 2.3 billion euros operating profit in 1Q 2020

The COVID-19 induced turmoil in the financial markets and a slowing economy have clearly aggravated busi-ness conditions for the financial services industry. However, Allianz with its well-diversified business portfolio and a robust balance sheet is well prepared to manage the Corona crisis and has achieved good results in the first quarter of 2020.

Allianz withdraws profit target for 2020

On the basis of the preliminary results for the first quarter 2020 Allianz Group expects an operating profit for 1Q of 2.3 billion euros (1Q 2019: 3.0 billion euros) and a shareholder’s net income for 1Q of 1.4 billion euros (1Q 2019: 2.0 billion euros). 

Allianz and BBVA to form long-term bancassurance joint venture in Spain

Allianz and Banco Bilbao Vizcaya Argentaria have signed an agreement to create a bancassurance joint venture in Spain including a long-term exclusive distribution agreement for the sale of property-casualty insurance products through BBVA’s banking network in Spain.

Allianz strengthens its Alternatives capabilities

Allianz announced its intention to combine the strengths of PIMCO, one of the world’s premier fixed income investment managers, and Allianz Real Estate, the captive real estate specialist with more than 70 billion euros of assets under management.

Allianz to invest in ControlExpert

Allianz X, the digital investment unit of Allianz Group, in cooperation with Allianz Germany, has entered into binding agreements with General Atlantic and other shareholders of ControlExpert for a majority investment in the company. The transaction is subject to the approval of the relevant antitrust authorities.