Allianz (China) Insurance Holdings to acquire Allianz China Life Insurance

Allianz (China) Insurance Holdings (AZCH) has acquired 49% of the Allianz China Life Insurance (AZCL) capital, previously held by CITIC Trust. This operation makes AZCH the company's sole shareholder. The transaction is still pending approval by the supervisory authorities.

Through this acquisition, Allianz aims to develop its life portfolio in China.

Read also | Allianz: establishment of an insurance asset management firm in China