Allianz is ceding part of its life portfolio
Allianz Taiwan Life Insurance and Taiwan Life Insurance have reached an agreement for the acquisition of the life subsidiary of the German insurer. This cession is in conformity with the strategy of Allianz which is keen on focusing its efforts on products that are least demanding in terms of capital, and on unit-linked insurance policies which are enjoying great popularity.
With the restrictions imposed by Solvency II on European insurers, Taiwan Life Insurance is best positioned to manage this portfolio. In terms of premiums, Allianz Taiwan Life was the most important multinational life insurance company of the country in 2015.
This transaction remains subject to the approval of shareholders and supervisory authorities. In case of approval, the transaction shall be finalized by the end of 2016.
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