Allianz high stake: Alliance openly wants to participate in US life insurance package 09/27/21

According to locals, Allians, Europe’s largest insurer, wants to split with a large life insurance portfolio in the United States.

The DAX Group could raise billions of dollars in capital, the Bloomberg News Agency reported Friday evening. It’s about a contract portfolio with billions of dollars in assets and liabilities. Allianz is currently working with consultants to explore a possible reinsurance solution.

The Coalition did not want to comment on Bloomberg’s request. In April, the group sold about 90,000 sets of life insurance contracts from Belgium to the Direct Insurer and Reinsurer Memorial. After a transition period, his subsidiary MAB must continue until the contracts expire. In both Belgium and Germany, the Alliance wants to focus on new types of life insurance contracts that combine low capital. However, for its German business, the group repeatedly refused to sell old contracts.

On the XETRA trading platform, Alliance shares eventually rose 1.73 percent to EUR 195.66.

/ stw / jha /

Munich (dpa-AFX)