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Allianz raises its shareholding in Saudi Allianz Fransi

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Magazine Issue: 
Insurtech, the insurance of the future [3]
Magazine date: 
May 2018

Allianz has acquired an additional 18.5% stake in the capital of local insurer, Saudi Allianz Fransi (AzSF). The German group now holds a 57% stake in the company’s capital. The transaction has recently been approved by supervisory authorities. The 18.5% stake has been acquired by the Bank Saudi Fransi (BSF) at 22 SAR (5.8 USD) per share.

It is the first time in Saudi Arabia that a foreign investor is authorized to acquire a stock in an already listed company.

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Fri, 08/06/2018 - 09:51

Source URL: https://www.atlas-mag.net/en/article/allianz-raises-its-shareholding-in-saudi-allianz-fransi

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[4] http://www.atlas-mag.net/en/article/sharp-fall-of-the-saudi-insurance-market-s-profits