Allianz SE has finalized the sale of its stake in UniCredit Allianz Vita to UniCredit. The transaction marks a significant move for both companies involved.
UniCredit Allianz Vita, a joint venture between Allianz and UniCredit, focuses on providing life insurance products. The decision to sell its stake is part of Allianz's broader strategy to streamline operations and focus on core business areas.
The completion of this sale allows UniCredit to take full control of the life insurance entity, potentially aligning it more closely with its banking operations.
"Allianz SE The Allianz Group is one of the world's leading insurers and asset managers with around 128 million* private and corporate customers in nearly 70 countries," states the company in a recent communication. They highlight their global reach and diversified services ranging from property, life, health insurance to credit insurance and global business insurance.
Allianz continues to emphasize its role as a major investor globally, managing substantial assets both for itself and third parties through entities like PIMCO and Allianz Global Investors. The firm also notes its commitment to integrating ecological and social criteria into business processes.
The financial performance of Allianz remains robust, with reported figures indicating total business volume at 179.8 billion euros and an operating profit of 16.0 billion euros for 2024. This reflects their strong position within the industry despite divestments like that of UniCredit Allianz Vita.
Overall, this transaction represents another step in Allianz's ongoing efforts to optimize its portfolio while maintaining leadership within the insurance sector.