PressNewsFinancialsStakes and investments: Allianz agrees to acquire minority interests in Irish subsidiary

Allianz agrees to acquire minority interests in Irish subsidiary

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich
Germany

Contact overview

Receive the latest Allianz news.

Newsletter

Follow Allianz in the social networks:

Facebook
Twitter
Google+
LinkedIn

  • Contact

  • Newsletter

  • Social Media

Allianz has agreed to acquire the remaining 33.5 percent stake in Allianz Irish Life Holdings plc (AILH) not already owned by Allianz Group.

 

Allianz SE
Munich, Feb 02, 2017

Allianz aims to increase its stake in AILH from 66.5 percent currently to 100 percent. The total consideration for AILH minority interests is approximately 160 million euros or 20.68 euros in cash per share. AILH is the holding company for Allianz Ireland, the second-largest property and casualty insurance company in Ireland by premiums.

The acquisition is being implemented by means of a scheme of arrangement under Chapter 1 of Part 9 of the Companies Act 2014 of Ireland and is subject to AILH shareholder approval and sanctioning by the Irish High Court. Canada Life is the largest minority shareholder in AILH with a 30.4 percent stake, with other shareholders owning 3.1 percent. The transaction is supported by Canada Life.

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

No offer

This announcement and the information it contains are not being issued and may not be distributed in the United States of America. This announcement does not constitute an offer of securities for sale in the United States of America or to, or for the account or benefit of, any U.S. person or in any other jurisdiction. The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States of America or any other jurisdiction absent registration or an applicable exemption from registration.

About Allianz

Together with its customers and sales partners, Allianz is one of the strongest financial communities. More than 85 million private and corporate customers insured by Allianz rely on its knowledge, global reach, capital strength and solidity to help them make the most of financial opportunities and to avoid and safeguard themselves against risks.

In 2015, around 142,000 employees in over 70 countries achieved total revenues of 125.2 billion euros and an operating profit of 10.7 billion euros. Benefits for our customers reached 107.4 billion euros.

This business success with insurance, asset management and assistance services is based increasingly on customer demand for crisis-proof financial solutions for an aging society and the challenges of climate change. Transparency and integrity are key components of sustainable corporate governance at Allianz SE.

  Further Information

  Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

 

  Press contact

Thomas Atkins
Allianz SE
Phone +49 89 3800 2960
Send email

Daniela Markovic
Allianz SE
Phone +49 89 3800 2063

Send email

  More at allianz.com

AGCS Global Claims Review 2017

Allianz-AGCS Claims Review
Mar 30, 2017 | Allianz SE

Modern corporate liability exposures can arise from a growing number of sources and have the potential to result in larger and more complex losses for businesses than ever before, warns Allianz Global Corporate & Specialty (AGCS) in a new report 'Global Claims Review: Liability in Focus'.

More...

Brexit and Beyond

Allianz-Brexit and Beyond
Mar 29, 2017 | Allianz SE

What is the UK government’s Brexit strategy and key issues in the exit talks? How will Brexit affect UK companies and its financial markets? What is the long-run impact of Brexit? Allianz economists provide some answers...

More...

Unity in Diversity

Allianz-Unity in Diversity
Mar 28, 2017 | Allianz SE

Workplace diversity - be it gender, cultural or social – allows a company to reach its full potential. Thanks to its initiatives, Allianz has a healthy mix of employees, shows our HR Fact Book 2016.

More...
More...