Allianz strengthens its presence in Brazil

Downloads

Related links

Allianz has agreed to acquire automobile and other Property-Casualty operations from SulAmérica.

The acquisition will strengthen the competitive position of Allianz in Brazil, making it one of the top 3 insurers with a market share of around 15 percent in motor and 9 percent in Property-Casualty insurance and establishing Allianz as the number 2 in motor insurance. The purchase price is 3 billion Brazilian real (667 million euros).

The total premium income from the acquired entity totaled approximately 806 million euros in 2018, with 762 million euros stemming from motor and 45 million euros stemming from other Property-Casualty operations. Pro-forma premium income of the combined entity is 1.5 billion euros with 1.2 billion euros related to Motor business. With a premium volume of approximately 16 billion euros and a growth rate of 6.0 percent in 2018 alone, the market for Property-Casualty insurance in Brazil is very attractive.

The transaction enlarges the service offering for customers and provides an opportunity to grow Allianz’s geographical footprint in Brazil. It also allows further investment in digital and disruptive technologies to energize the industry and continue to deliver first-class solutions for local brokers and customers.

“With the acquisition of SulAmérica’s Property-Casualty operations, we have taken another major step in the strategic repositioning of our Latin American insurance businesses,” says Oliver Bäte, Chief Executive Officer of Allianz SE. “We are attaining a clear leadership position to effectively compete in the growing Property-Casualty market of the largest economy in South America.”

“We are creating a new Allianz combining the best people of both sides and forming an outstanding team that will embrace the opportunities of the Brazilian market with full commitment and confidence,” says Eduard Folch Rue, Chief Executive Officer of Allianz Seguros S.A. (Allianz Brasil). “Our trademark will be the innovation, digitalization, and the service to our customers through our main partners, the brokers and advisors. We will combine the local know-how of SulAmérica with all the strengths that an international Group like Allianz has.”

The transaction is scheduled to be completed within the next 12 months, pending regulatory approvals.

About Allianz Seguros S.A.

In Brazil for 115 years, Allianz Seguros has been active in Property & Casualty and health insurance and is present nationwide through, more than 1,000 employees, 48 branches and approximately 15,000 insurance brokers, which are the company's main business partners. With the premise of developing long-term actions, both in our business and in the social field, 25 years ago a group of employees created ABA – Charitable Association of the Employees from Allianz Seguros. During this period, more than 7,000 children and adolescents from the Santa Rita Community were attended by ABA, trough complementary activities to formal education, such as arts, sports and digital inclusion. Allianz Seguros lends its name to the Allianz Parque, the most modern multipurpose arena in the country. Since its launch in November 2014, it has hosted over 6.5 million people.

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail and corporate customers in more than 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 754 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage almost 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Press contacts

Holger Klotz
Allianz SE
Daniella Matsunaga
Allianz Seguros S.A. (Allianz Brasil)

Daniela Markovic
Allianz SE
Cleia Antochiw
Allianz Seguros S.A. (Allianz Brasil)
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:
Disclaimer

Further information

Allianz enters JV agreement with AEON Financial Service

Allianz SE has entered into an agreement to form a life insurance joint venture (JV) with AEON Financial Service (AFS) to develop and market life insurance solutions for local customers in Japan.

Allianz completes purchase of LV GIG and General Insurance division of Legal & General

Allianz Holdings plc has completed the planned acquisition of the remaining 51 percent of the LV General Insurance Group (LV GIG) from Liverpool Victoria Friendly Society (LVFS). The total consideration by Allianz for 100 percent of LV GIG will be up to 1.078 billion pounds.

Allianz X and Debeka invest in SDA SE Open Industry Solutions

Allianz X, the digital investment unit of the Allianz Group, and Debeka, a German insurance and financial services provider, have invested in SDA SE Open Industry Solutions. Together with existing investors SIGNAL IDUNA and the msg group, the new strategic partners will support the development of a new standard for setting up and delivering digital services in the insurance industry.