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

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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

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 746 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.8 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 March 31, 2024.

Press contacts

Holger Klotz
Allianz SE
Kirti Pandey
Allianz SE
Johanna Oltmann
Allianz SE
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