Allianz to continue its external growth strategy

The German group Allianz, present in Brazil since 1974, has purchased the motor insurance portfolio and other property & casualty activities of SulAmérica, Brazil's second largest insurance company.

This transaction, worth 667 million EUR (758 million USD), aims to strengthen the German insurer's presence in Brazil and Latin American markets.

Following this acquisition, Allianz became the country's second largest motor insurer with a market share of 15%. It also owns 9% of Brazil's homeowner’s business.

As a reminder, in May 2019, Allianz reinforced its presence in the United Kingdom through two new acquisitions whose total value amounted to 1 billion USD.

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