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Allianz completes the acquisition of Tua Assicurazioni in Italy

Allianz SE | Munich | Mar 01, 2024

Allianz S.p.A. announced today that it has completed the acquisition of Tua Assicurazioni S.p.A. from Assicurazioni Generali S.p.A. for a consideration of 280 million euros. The acquisition was initially reported on October 12, 2023.

 

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Allianz Italy

Allianz S.p.A. announced today that it has completed the acquisition of Tua Assicurazioni S.p.A. from Assicurazioni Generali S.p.A. for a consideration of 280 million euros. The acquisition was initially reported on October 12, 2023.

Upon completion of the transaction, which has already cleared regulatory approvals, Allianz S.p.A.’s P/C market share in Italy is expected to increase by approximately 1 percentage point, consolidating its position as the #3 player in the Italian P/C market. 

Tua Assicurazioni has a profitable Property and Casualty (P/C) insurance portfolio with overall gross written premiums of about 280 million euros in 2022, mainly managed via a distribution network of almost 500 agents.

Thanks to its strong focus on customer centricity and distribution excellence, Allianz will ensure a smooth transition for clients, employees and agents, while maximizing the benefits of its scale.

About Allianz

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.

For further information, please contact:

Frank Stoffel
Allianz SE
+49 89 3800 18124
Send email
Fabrizio Tolotti
Allianz SE
+49 89 3800 14819
Send email
Johanna Oltmann
Allianz SE
+49 89 3800 13346
SEND EMAIL

Further information

Allianz Investor Relations

Cautionary note regarding forward-looking statements

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

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Allianz completes the acquisition of Tua Assicurazioni in Italy

Allianz S.p.A. announced today that it has completed the acquisition of Tua Assicurazioni S.p.A. from Assicurazioni Generali S.p.A. for a consideration of 280 million euros. The acquisition was initially reported on October 12, 2023.

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