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02 Sep 2019, Natalia Yanakieva, Head of Industry Research, EMIS

Allianz to buy part of SulAmerica’s business for USD 743mn

Brazil’s Allianz SE said that it would acquire SulAmerica SA's motor insurance and some of its property and casualty operations in Brazil for USD 743mn. The acquisition will expand the German insurer’s presence in Brazil’s auto insurance to 15%, and in property and casualty insurance to 9%.

The transaction, which marks Allianz's largest investment in Brazil, will be concluded over the next 12 months.

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Original source: EIU - Industry Briefings