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Allianz strengthens its presence in Brazil

Allianz SE | Munich/Sao Paulo | Aug 23, 2019

  • Allianz to acquire automobile and other Property-Casualty operations from SulAmérica and become one of the top 3 insurers in Property-Casualty insurance in Brazil.
  • The transaction to position Allianz as the number 2 in automobile insurance.
  • The acquisition supports Allianz’s growth strategy in key markets.
  • Pending regulatory approvals, closing is expected within the next 12 months.

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Allianz Brazil

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.

About Allianz

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 737 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 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 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 December 31, 2023.

Press contacts

Holger Klotz
Allianz SE
+49 89 3800 90921
Send email
Daniella Matsunaga
Allianz Seguros S.A. (Allianz Brasil)
+55 11 98931 7130
Send email
Daniela Markovic
Allianz SE
+49 89 3800 2063
Send email
Cleia Antochiw
Allianz Seguros S.A. (Allianz Brasil)
+55 11 3171 6278
Send email

Cautionary note regarding forward-looking statements

As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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Allianz Investor Relations

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