Aviva chose Allianz’s offer for the sale of its operations in Poland which had risen to 2.5 billion euros. This is stated in a note from the German group which also announces the acquisition of 51% of the bancassurance business in a joint-venture with Santander. Technically, Allianz pays the entire package 2.7 billion euros, while collecting 0.2 billion dividends at the same time. Also competing for Poland were Generalies and the Dutch Nn.
With the operation, Allianz becomes the number 2 in insurance companies in Central-Eastern Europe, they explain from Munich, in terms of operating result. In Poland, the Group is a candidate to become “the fifth insurer for gross premiums collected and the second in the life business“. The operation, which should be completed within the next 12 months, will allow Allianz to “double its revenues” in the country, which is the main market in Central and Eastern Europe, with 38 million inhabitants and a GDP of “around 600 billions of dollars ”, equal to 509.14 billion euros.
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