Allianz buys Aviva’s Polish business
Allianz has agreed to purchase the life and non-life insurance operations, as well as pension and asset management business from Aviva and acquire each 51 percent stake in Aviva’s life and non-life bancassurance joint ventures with Santander. On completion, the transaction, worth 2.5 billion euros, is immediately earnings accretive and comprises a purchase price of 2.7 billion euros and a dividend payment of 0.2 billion euros.
“We are delighted to further strengthen visibility of the Allianz brand in Central Eastern Europe and pursue our successful growth strategy in the region. By combining our insurance and digital expertise and strong investments in technological innovation, customers will benefit from our innovative products and outstanding services.” – Oliver Bäte, CEO of Allianz SE.
“We are very pleased to enter into this agreement as the acquisition of Aviva’s business will reignite growth in Poland and produce a scale effect in the entire CEE region. With a customer-first approach to design and distribution, and using innovation and technology as key enablers to deliver customer satisfaction, we see this as a fantastic opportunity to strengthen our footprint.” – Klaus-Peter Roehler, Member of the Board of Management of Allianz SE responsible for insurance in German-speaking countries and Central Eastern Europe.