Allianz completes €500m acquisition of SulAmérica’s auto and other P&C operations

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Allianz completes €500m acquisition of SulAmérica’s auto and other P&C operations

German insurance giant Allianz has closed its BRL 3.2 billion (€500 million) acquisition of the automobile and other property and casualty (P&C) business from Brazilian insurance company SulAmérica Auto e Massificados. The deal, which was signed in 2019, will help in enlarging the service offering for customers and expands Allianz’ geographical presence in Brazil. (Read […]

SulAmérica to divest auto and other property-casualty operations to Allianz

By on    General business news  

SulAmérica to divest auto and other property-casualty operations to Allianz

Allianz, a German multinational financial services company, has entered into an agreement with Brazilian insurance company SulAmérica to acquire the latter’s automobile and other property-casualty operations for €667 million. Through the acquisition, Allianz will grow its geographical presence in Brazil, becoming one of the top three insurers with a market share of around 15% in […]