Allianz S.p.A., the Italian holding company of the Allianz Group, announced today that it has successfully closed the transaction to acquire Aviva Italia S.p.A., the Italian property & casualty (P&C) insurance entity of the Aviva Group, from Aviva Italia Holding S.p.A.
The transaction, which is worth about 330 million euros, was announced in March 2021. It involved a portfolio equally distributed between motor and non-motor business segments with gross written premiums of about 400 million euros.
The completion of the transaction further strengthens Allianz S.p.A.’s No.3 position in the Italian P&C insurance industry, increasing the company’s market share by approximately one percentage point.