Allianz completes acquisition of Aviva’s operations in Poland and Lithuania

Downloads

Related links

Allianz announces today that it has completed the acquisition of the Aviva Group’s operations in Poland and Lithuania. 

The transaction, announced on March 26 this year, is Allianz’s largest deal globally in a decade. It involves Aviva’s life and non-life insurance operations as well as its pension and asset management businesses. Under the transaction, Allianz had also agreed to acquire 51 percent stake each in Aviva’s life and non-life bancassurance joint ventures with Santander Bank Polska. The transaction also includes Aviva’s Life operations in Lithuania.

With the closing of the transaction, Allianz becomes the most profitable international player in the Central Eastern Europe market. In the key Polish market, Allianz becomes the fifth-largest insurer and the second-largest player in the life insurance segment1, in terms of gross written premiums.

1 Based on 2020 figures.

Petros Papanikolaou, Chief Executive Officer of Allianz Central Eastern Europe, said: “We would like to welcome our colleagues and customers from Poland and Lithuania into the Allianz Group. After successfully completing the transfer of ownership, we will now focus on ensuring a seamless transition for our joint community of around 2,400 employees, a large network of about 4,000 agents, and almost 5 million customers in Poland and Lithuania. We are planning to complete the merger of our Polish operations by mid-2022. We look forward to working jointly with our colleagues to leverage our broad talent pool, wide distribution network, diversified product offering, and increased scale. Together, we will further strengthen our market position of a top international player in Poland and continue developing a unique and innovative value proposition for our customers.”

Additionally, Allianz announces the appointment of Jolanta Karny as the new Chief Executive Officer of Aviva Life and Aviva sp. z o.o., effective November 30. The appointment is subject to approval by the Polish Financial Supervision Authority (KNF). Jolanta Karny has a successful track record in various positions in the organization. In her current role of Sales and Marketing Director, she oversees Aviva’s agent network in Poland, successfully driving the organization towards growth. 

Jolanta Karny succeeds Adam Uszpolewicz, who joined Aviva in 2007. He has led the company’s Polish operations as Chief Executive Officer since 2013, following an earlier stint as Chief Executive Officer during 2007-08. Adam Uszpolewicz has contributed significantly to making Aviva one of the most successful players in the Polish insurance market. 

The Allianz Group is one of the world's leading insurers and asset managers with more than 122 million* private 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 706 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 2022, over 159,000 employees achieved total revenues of 152.7 billion euros and an operating profit of 14.2 billion euros for the group***.
* Including non-consolidated entities with Allianz customers.
** As of September 30, 2023.
*** As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17.

Press contacts

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

Further information

AlTi Tiedemann Global welcomes strategic investment of up to $450m from Allianz X and Constellation Wealth Capital

Investment accelerates AlTi’s strategy to become the leading global independent wealth management platform for the ultra-high-net-worth segment. Investment to be used principally to execute AlTi’s global mergers and acquisitions pipeline and organic growth strategy.

Allianz X Invests in NEXT Insurance’s USD 265 Million Financing Round

Funding will be used to accelerate NEXT’s path to profitability and expand its market reach / Deal deepens relationship with Allianz, including multi-year reinsurance relationship with Allianz Re / Third investment by Allianz X into U.S. P&C SME insurtech space ahead of the opening of its offices in New York today

Allianz to sell minority stake in CPIC Fund Management Co.

Allianz SE has entered into definitive agreements regarding the sale of its 49% stake in CPIC Fund Management Co., Ltd. to Guotai Junan Securities Co., Ltd.