Allianz completes sale transaction of Lebanon operations to Global Gate Capital

Downloads

Related information

The Allianz Group, one of the world's leading insurers and asset managers, announced today that it had completed a transaction regarding the sale and transfer of its operations in Lebanon to Global Gate Capital (GGC Group), a leading Asset Manager, as the Munich-based group streamlines its operations.

“In GGC Group, we have found a trusted partner for our customers and employees in Lebanon,” says Chris Townsend, Member of the Board of Management of Allianz SE, Global Insurance Lines & Anglo Markets, Iberia & Latin America, Middle East, Africa. 

Allianz Group’s solvency capitalization and cash position are not affected.

Press contact

Anja Rechenberg
Allianz SE
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 737 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 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 December 31, 2023.
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:
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.