Allianz SE publishes the Information Circular for the voluntary tender offer for European Reliance shares outstanding; initiation of the acceptance period

Allianz SE | Athens | Jul 04, 2022

Allianz had announced in February this year that it had entered into certain Share Purchase Agreements to acquire 72 percent of European Reliance General Insurance Company SA (“European Reliance”). Allianz announces today that it has formally published the Information Circular and is proceeding with the Voluntary Tender Offer (VTO) for the remaining European Reliance shares.

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Allianz had announced in February this year that it had entered into certain Share Purchase Agreements to acquire 72 percent of European Reliance General Insurance Company SA (“European Reliance”).

After obtaining the approvals by the Bank of Greece, the Hellenic Competition Commission and the Hellenic Capital Market Commission, Allianz announces today that it has formally published the Information Circular¹ and is proceeding with the Voluntary Tender Offer (VTO) for the remaining European Reliance shares². The VTO acceptance period, will begin on July 4, 2022 at 08:00 AM EEST and end on August 1, 2022 at the end of the working hours of banks operating in Greece.

The transaction is a continuation of the Allianz Group’s stated strategy to grow its franchise by leveraging its scale and expertise.

¹ Information circular: https://bit.ly/3Ap5CwD

² Statutory announcement (in Greek language): https://bit.ly/3OXplbn

About Allianz

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 714 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 June 30, 2023.
*** As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17.