Allianz: acquires Aviva Poland for E2.5bn

(CercleFinance.com) - Allianz has announced that it has bought the P&C and life businesses, pension and asset management activities of Aviva Poland

The German group is also acquiring each 51% stake in Aviva Poland's life and non-life bancassurance joint ventures with Santander.
The deal is worth 2.5 billion euros.

Allianz therefore becomes the fifth largest insurer in Poland and consolidates its leading position as the most profitable insurer in Central and Eastern Europe (CEE).

Subject to customary conditions, it is expected to close within 12 months.

What does the market think? At about 10.30 am both the Allianz and Aveva shares were up about 0.6%.


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