The changes follow the planned retirement of Klaus-Peter Röhler, who will step down from the Board of Management on December 31, 2026, after reaching the company’s age limit and completing his contractual mandate. Röhler will leave after 30 years with the company.

Subject to regulatory approval where required, the new appointments and role adjustments will take effect on January 1, 2027.

Tomas Kunzmann, currently Chief Executive Officer of Allianz Partners, will join the Board of Management and take responsibility for the Asia Pacific region, including India. His successor as CEO of Allianz Partners will be announced at a later date.

Renate Wagner, already a member of the Board of Management, will take over responsibility for Germany, Switzerland and Central Europe. Wagner will also continue to oversee the “People & Culture” and “Mergers & Acquisitions” portfolios, while transferring her Asia Pacific responsibilities to Kunzmann.

The Global Property & Casualty Retail unit, which oversees retail insurance businesses worldwide, will report to Sirma Boshnakova. Boshnakova currently leads Insurance Western & Southern Europe as well as Allianz Direct and Allianz Partners within the group.

The company also confirmed that the mandate of Claire-Marie Coste-Lepoutre as Chief Financial Officer and member of the Board of Management has been extended for five years, running until December 31, 2031.

Commenting on the changes, Michael Diekmann, Chairman of the Supervisory Board of Allianz SE, said: “On behalf of the Supervisory Board, I express our respect and appreciation for Klaus-Peter Röhler’s contribution to the success of Allianz in thirty years of service and congratulate Tomas Kunzmann on his appointment to the Board of Management in 2027.”

Chief Executive Officer Oliver Bäte also praised Röhler’s impact and welcomed the next generation of leadership. “Klaus-Peter Röhler is an exceptional leader and a highly esteemed colleague who has demonstrated excellence and integrity in every position that he has held at Allianz. He is an inspiring role model and mentor to many, including members of our Board of Management and many other leaders across our company. I count myself among those who have benefited from his counsel over the years.

“We are very fortunate to have talented and technology-forward leaders like Tomas Kunzmann in our succession and development pipelines. In the past years, he has delivered growth and technology transformation in our flagship global business line Allianz Partners, which serves as a strategic blueprint for the way Allianz intends to expand our offering in growing markets.

“As we look to our next phase of growth, resilience, and productivity, we can count on our entire Board to continue excelling in their respective areas of responsibility.”

Tomas Kunzmann has served as CEO of Allianz Partners since July 1, 2022. During his tenure, the global assistance and insurance solutions provider has recorded strong financial and customer growth, reaching more than 90 million customers worldwide and generating annual revenue of over €10.5 billion in 2025, with operating profit of €402 million.

Alongside Allianz Direct, Allianz Partners forms a key component of Allianz’s Connected Platforms, which combine insurance expertise with AI-driven technologies and a global network of service providers to deliver omnichannel, highly personalised customer experiences.

Kunzmann joined Allianz Group in 2009 and held several roles at Allianz Private Krankenversicherung, including Head of Health Underwriting. In 2013 he moved to Allianz’s German sales organisation, Allianz Beratungs- und Vertriebs-AG, as Sales Manager before leading regional branch offices in Ingolstadt and later Kempten. He moved to the group’s headquarters in 2017 as Executive Assistant and Interim Head of Office to the CEO. In 2020 he joined Allianz Partners’ board to lead the Mobility & Assistance business line.

He studied business administration at Friedrich-Alexander University Erlangen-Nuremberg, including periods abroad in Washington, D.C., and Jyväskylä, Finland.

The post Allianz SE announces Board of Management changes ahead of 2027 transition appeared first on ReinsuranceNe.ws.

In its latest analysis, Allianz Commercial describes Black Swans as rare and unforeseen incidents that cause significant economic disruption and long-term societal impact. While such events can appear predictable after the fact, they are typically unexpected at the point of occurrence.

Allianz Commercial points to historical precedents including the 2001 attacks on the World Trade Center, the 2008 global financial crisis and the Covid-19 pandemic.

According to Allianz Research, the pandemic alone led to cumulative global GDP losses of around US$12 trillion between 2020 and 2023. Allianz notes that beyond immediate financial damage, such crises frequently reshape geopolitical relationships and social structures for years afterwards.

Drawing on responses from 3,338 risk management professionals across nearly 100 countries and territories for the Allianz Risk Barometer 2026, Allianz Commercial reports that 51% of respondents view a global supply chain paralysis triggered by geopolitical conflict as the most plausible Black Swan scenario affecting their business within the next five years.

Allianz Commercial states that this concern reflects mounting unease over trade fragmentation, tariffs and regional conflicts that could disrupt the movement of goods and raw materials across multiple major economies.

A global internet outage caused by a major cyber-attack or technological failure ranks second globally at 47%, according to Allianz Commercial. The company says this finding highlights rising awareness among business leaders of cyber risk, digital interdependency and artificial intelligence-related vulnerabilities.

Allianz Commercial observes that as physical and digital supply chains become increasingly interconnected, operational disruptions can spread more rapidly and with wider consequences than in the past.

In the United Kingdom, Allianz Commercial reports that fears of extreme disruption are even more pronounced. Sixty-nine per cent of UK respondents identify a global internet outage as the country’s most concerning Black Swan scenario, substantially above the global average.

Allianz Commercial attributes this to the UK’s strong reliance on digital infrastructure and services. Global supply chain paralysis follows at 46%, while the sudden collapse of a major financial institution ranks third, signalling persistent concern over financial system stability.

Thomas Lillelund, Chief Executive Officer of Allianz Commercial, commented: “Although Black Swan events are not seen to be immediately likely, these rare, high-impact scenarios are perceived as increasingly plausible and should be considered by executive boards given their potential consequences.

“Growing interconnectivity across both physical and digital supply chains means disruptions now cascade much faster and can turn into major losses. In today’s fragmented geopolitical environment, companies must double down on resilience and integrated risk management to ride out the next perfect storm.”

Allianz Commercial identifies geopolitics as a central driver behind current risk perceptions. The company notes that threats linked to trade disputes, export controls and protectionist policies, alongside conflicts in regions such as the Middle East and Ukraine, are heightening concerns about systemic supply chain shocks. Allianz Research estimates that a global supply chain disruption on a scale comparable to the war in Ukraine could generate cumulative GDP losses of US$1.5 trillion over a two-year period.

Political instability is also viewed by respondents as a potential catalyst for severe disruption. Allianz Commercial reports that mass social unrest and political instability rank fourth globally at 29%, and appear among the top three risks in the Americas and in Africa and the Middle East.

Meanwhile, the sudden collapse of a major financial institution or a sovereign debt crisis ranks third globally at 30%. Allianz Commercial notes that such an event could trigger a liquidity crisis and significant market volatility.

The company further states that concentration risk is increasing exposure to systemic shocks. According to Allianz Commercial, reliance on a limited number of suppliers in areas such as artificial intelligence, digital services, semiconductors, rare earth processing and transition technologies may amplify the impact of future disruptions. The interdependence of energy grids and digital infrastructure is also cited as a factor that could intensify the consequences of simultaneous climate and power-related crises.

Survey findings published by Allianz Commercial show that perceptions vary by company size. Large enterprises with annual revenues above US$500 million and mid-sized firms between US$100 million and US$500 million most frequently cite global supply chain paralysis as their primary concern.

Smaller companies, with revenues below US$100 million, are more likely to rank a global internet outage as their leading risk. Allianz Commercial suggests that larger organisations may feel comparatively better prepared for cyber-related events due to greater resources and diversified operations, while smaller firms may be more exposed to prolonged digital disruption.

Michael Bruch, Global Head of Risk Consulting Advisory Services at Allianz Commercial, added: “Awareness of Black Swans and the need to build resilience has increased in recent years, but businesses can never fully prepare for rare high impact events such as a global outage or an unforeseen climate-related catastrophe.

“Building organisational agility, fostering a risk-aware culture and developing scalable response plans for a range of scenarios remain the most practical steps to best prepare for Black Swan events. Insurers can play a critical role in helping businesses strengthen their resilience in areas such as cyber risk and support more informed decisions when assessing and selecting critical suppliers.”

Allianz Commercial concludes that while respondents do not view these scenarios as imminent, they are widely regarded as plausible within a five-year timeframe. The company states that in an environment shaped by geopolitical fragmentation, digital dependency and climate pressures, resilience, agility and integrated risk management are increasingly seen by businesses as essential measures to mitigate the impact of severe, low-probability events.

The post Businesses brace for plausible ‘Black Swan’ shocks amid geopolitical and digital strains: Allianz appeared first on ReinsuranceNe.ws.

Group-wide, shareholders’ core net income increased by 12% year-on-year, reaching €2.7 billion in Q4’25.

For the full year 2025, total business volume rose 8.11% compared to the prior year, reaching €186.9 billion with contributions from all segments.

Operating profit in 2025 increased 8.4% to €17.4 billion, Allianz’s highest operating profit ever, the firm noted.

The insurer highlighted the Property/Casualty business as the main growth driver, with all business segments exceeding their full-year outlook midpoints.

Shareholders’ core net income for the full year 2025 rose to €11.1 billion, marking a 10.9% increase from the previous year.

Further underscoring the strong performance of its P&C business, the insurer reported that total business volume in the segment reached €19.9 billion in Q4’25, up from €19.5 billion in the same period of 2024.

For the full year 2025, total business volume rose to €86.7 billion, compared with €82.9 billion in 2024.

Meanwhile, operating profit in the segment increased by 9.6% year-on-year to €2.1 billion in Q4’25. For the full year, operating profit reached €9 billion, significantly exceeding the insurer’s full-year outlook midpoint of €8.0 billion.

According to the insurer, operating profit growth of 13.9% was driven almost entirely by a higher operating insurance service result.

The P&C combined ratio improved to 93.6% in Q4’25, compared with 94.7% in Q4’24. For the full year 2025, the combined ratio improved to 92.2%, down from 93.4% in 2024. The improvement was supported by both a lower loss ratio and a lower expense ratio.

The company noted that lower natural catastrophe losses, combined with underlying improvements from underwriting actions, more than offset a conservative run-off ratio.

The firm also highlighted strong performance across its retail and commercial businesses in 2025. The retail business reported an improved full-year combined ratio of 92.4%, while the commercial business delivered a solid combined ratio of 91.7%.

For Q4’25, the retail business recorded a combined ratio of 94.5%, while the commercial business posted a combined ratio of 92.6%.

Within the carrier’s life and health (L&H) business, the present value of new business premiums (PVNBP) amounted to €21.2 billion in Q4’25. For 2025, PVNBP reached €84.7 billion.

The new business margin remained attractive in Q4’25 at 5.8%, and the value of new business rose by 5.3% to €1.2 billion. For 2025, the new business margin was at an attractive 5.7%, as the value of new business increased by 5.8% to €4.8billion.

L&H operating profit reached a good level of €1.4 billion in Q4’25 and increased by 1.7% to €5.6 billion in full year 2025.

Turning to Allianz’s Asset Management business, operating revenues increased to €8.5 billion for 2025 and reached €2.3 billion in Q4’25.

Oliver Bäte, Chief Executive Officer of Allianz SE, commented: “Allianz’s record results for 2025 demonstrate – again – our ability to deliver reliably, including in rapidly shifting and increasingly divisive environments. The strength of our performance and fundamentals goes well beyond our financial discipline and operational resilience. Our success is also powered by our leading brand strength, record customer loyalty, and highly motivated employees.

“Customers expect protection and peace of mind at a price that they can afford, which is why our ability to offer superior value is so vital to the continued growth of our customer base. To mitigate deepening polarization in the world, it remains our strategic priority – as well as our societal responsibility – to ensure that people can access the freedom and security that our products and services provide.”

The post Allianz’s Q4’25 operating profit rises 3%, FY’25 hits ‘record’ €17.4bn appeared first on ReinsuranceNe.ws.

He will be taking over his new role on March 1st, 2026, subject to regulatory approval, and will be based in Madrid.

Money will have dual reporting lines, answering to Veit Stutz, Chief Executive Officer at Allianz Seguros, and Jeremy Sharpe, Chief Distribution Officer at Allianz Commercial.

The executive will succeed Agustín de la Cuerda, who is moving to a new role to be confirmed soon. de la Cuerda joined Allianz in 1994, holding leadership positions in Spain, Portugal, and Latin America.

He was crucial in establishing and growing Allianz Commercial in Iberia and driving Allianz Seguros’ SME business in Spain, where the company is a top-two player. Allianz now serves approximately 80% of IBEX 35 listed companies, often providing multinational insurance beyond Iberia.

According to the announcement, de la Cuerda will stay in his current Allianz Commercial and Allianz Seguros roles until Money takes over in March to ensure a smooth transition.

Jeremy Sharpe, Chief Distribution Officer at Allianz Commercial said: “I want to thank Agustin for his leadership of Allianz Commercial in Iberia. He has established our Commercial business strongly in the market and as a key hub in our multinational network, and I wish him the very best for his next steps.

“I am very happy to welcome Guy to Madrid: he has extensive international experience spanning the Commercial sector and will further drive our business strategy in Iberia, supporting clients and brokers across this key region.”

In his new roles, Money will lead Allianz’s commercial insurance activities for small- and medium-sized companies, large corporations and specialty risks in Spain and Portugal.

He has been part of Allianz since 2020 and currently holds the position of Global Head of Multinational at Allianz Commercial, following several other senior leadership roles within the company.

Before his time at Allianz, he worked at AXA as the Group Head of Liability lines. His career also includes five years in Singapore and various senior management roles across Europe, Asia, the Middle East, and Africa.

Veit Stutz, Chief Executive Officer of Allianz Seguros (Spain) commented: “Agustín has played a key role in our company for many years. His leadership has made an important contribution to strengthening our business in Spain.

“I would like to thank him for his commitment and valuable contribution. Now, with Guy joining the team, we will continue to grow our SME and corporate business, supported by his experience in the multinational segment as we further expand our presence in Spain.”

The post Guy Money appointed MD of Allianz Commercial Iberia appeared first on ReinsuranceNe.ws.

“One of the things in our business model, even though we measure short term, is to try to look through the noise and focus on the signal,” Bäte told a CNBC panel ahead of the 2026 World Economic Forum Annual Meeting in Davos, Switzerland.

According to the CEO, economic risk has been building for a long time, raising the question of why it has not yet been fully reflected in market prices.

“That’s what concerns us. But the most important question for us is: how do we keep our customers safe? I keep saying that, and it really matters.

“So we have been de-risking. When people said, ‘Yeah, but you lost a lot of money last year on the US dollar,’ we said, ‘No, we didn’t,’ because we’ve been hedging our net cash flow in US dollars forward for a long time. That’s what we do.”

Discussing the renewed focus on tariffs, Bäte said there was “absolutely” a risk to be managed, but noted that tariffs are ultimately a tool used by politicians seeking to achieve a particular outcome.

Recent headlines have underlined that point. US President Donald Trump has suggested that acquiring Greenland is imperative for national and global security.

He has said he would impose a 10% tariff “on any and all goods” sent from the UK to the US from 1 February, rising to 25% from 1 June, unless Washington reaches a deal to purchase Greenland from Denmark.

He added the same measures would apply to goods from Denmark, Norway, Sweden, France, Germany, the Netherlands and Finland.

“If you go back many, many years and ask, ‘What’s the art of the deal?’ you can read the scripts—they’re right there. That doesn’t mean it’s not dangerous. But again, we need to ask: what’s the noise, what’s the signal?” Bäte stated.

Expanding on the company’s approach to de-risking well ahead of recent events and the question of reducing US assets on its balance sheet, the CEO said. “No. We’ve been preparing—we’ve been preparing.

“We discussed the US dollar previously. Europe holds a particularly large exposure to it, and it’s important for the US government to consider what it means if confidence in these assets erodes. We’ve been monitoring that closely. At the same time, we’ve been carefully and thoughtfully optimising diversification, that’s the key point.”

The panel wrapped up the discussion on diversification and risk assessment, including whether Allianz anticipates further weakness in US assets.

Bäte concluded, “It depends on what happens over the next few months. The biggest risk would be a loss of fundamental trust in the future of the US financial system. We don’t see that risk materialising. I’m an optimist, but a cautious one, so call me a careful optimist.”

The post Carefully optimistic Allianz prepares for economic uncertainty with strategic de-risking appeared first on ReinsuranceNe.ws.

The investment forms part of Wrisk’s recently announced Series B funding round, led by Alma Mundi Ventures alongside Opera Tech Ventures.

With this investment, Allianz joins a group of shareholders that have supported Wrisk in previous funding rounds. The addition of one of the world’s largest insurers further reinforces Wrisk’s standing as a trusted partner for automotive original equipment manufacturers (OEMs).

The move reflects increasing demand for tighter collaboration between insurers and embedded insurance platforms as OEMs pursue more integrated, insight-led insurance offerings.

Allianz’s participation carries particular weight given its long-standing relationship with Wrisk, having served as the company’s primary underwriter for nearly a decade. The investment comes at a time when many of Wrisk’s OEM clients are seeking deeper, more focused partnerships with a smaller group of insurer partners. By combining close OEM relationships with advanced platform and data capabilities, Wrisk enables insurers to build advantages in areas including data enrichment, risk assessment, and pricing strategy.

The Wrisk platform aggregates real-time insights across insurance, vehicle, financial, and behavioural data to improve decision-making in pricing, claims handling, and customer engagement. Central to this capability is Wrisk’s proprietary embedded data framework, purpose-built for automotive OEMs to align inputs from connected vehicles, telematics, transaction data, and customer interactions. This structure supports scalable intelligence through machine learning models that adapt alongside vehicle innovation, customer trends, and market shifts.

Proceeds from the Series B round, including Allianz’s investment, will be used to support Wrisk’s international growth plans and continued development of its data science and analytics capabilities, as the platform expands and partnerships across the automotive and insurance sectors deepen.

Nimeshh Patel, CEO of Wrisk, commented: “Allianz’s investment is a strong endorsement of Wrisk’s strategy and our role in helping insurers and OEMs work more closely together. As OEMs increasingly look for fewer, more strategic insurance partners, our ability to combine deep OEM relationships with sophisticated data and technology becomes ever more important. We are delighted to welcome Allianz as a shareholder and look forward to deepening our long-term partnership.”

Ulf Lange, Managing Director, Personal Lines, at Allianz UK, added: “Wrisk has built a compelling platform at the intersection of insurance, data and the automotive sector. Its close relationships with OEMs and focus on data-driven insurance solutions align closely with Allianz’s strategic priorities, and we are pleased to support Wrisk as it continues to scale its business and capabilities.”

The post Allianz invests in Wrisk as part of Series B funding to accelerate embedded automotive insurance growth appeared first on ReinsuranceNe.ws.

In his new role, Steiner will oversee capital management and legacy and run-off activities for Allianz Re across Property & Casualty and Life & Health reinsurance. He will report to the Chief Underwriting Officer of Allianz Group.

Steiner has spent 15 years at Allianz, joining the group in 2011 in product development and actuarial roles at Allianz Private Krankenversicherungs AG, a German private health insurer and part of the Allianz Group.

During his tenure, he has held several senior leadership positions, including Head of Department Aktuariat Krankenversicherung at Allianz Deutschland AG, the German arm of Allianz.

Most recently, he served as Senior Advisor Capital Management at Allianz Re since March 2024, where he was responsible for further developing the Capital Management Reinsurance portfolio for Allianz Group’s internal P&C business.

The post Allianz Re appoints Florian Steiner as Head of Capital and Legacy Solutions appeared first on ReinsuranceNe.ws.

The findings show that cyber incidents continue to be the dominant concern for organisations, while artificial intelligence (AI) has rapidly become one of the most prominent emerging risks.

According to Allianz Risk, cyber incidents rank as the number one global business risk for the fifth consecutive year, cited by 42% of survey participants. This is the highest level recorded for cyber risk since the barometer was introduced and reflects a growing gap between cyber threats and all other risk categories.

Allianz Risk reports that cyber incidents are viewed as the leading concern across all regions, including the Americas, Europe, Asia Pacific, and Africa and the Middle East. The results highlight the increasing dependence of companies on digital infrastructure at a time when cyber threats are becoming more frequent, targeted, and complex.

“Large companies’ investments in cyber security and resilience have been paying off, ensuring they can detect and respond to attacks early. However, cyber risk continues to evolve. Organisations are increasingly reliant on third party providers for critical data and services, while AI is supercharging threats, increasing the attack surface and adding to existing vulnerabilities,” said Michael Bruch, Global Head of Risk Consulting Advisory Services, Allianz Commercial.

Artificial intelligence has shown the most dramatic change in the 2026 ranking, moving from tenth place last year to second, with 32% of respondents identifying it as a major source of risk. Allianz Risk attributes this rise to the rapid integration of AI systems into business operations across nearly all sectors.

“Companies increasingly see AI not only as a powerful strategic opportunity but also as a complex source of operational, legal, and reputational risk. In many cases, adoption is moving faster than governance, regulation, and workforce readiness can keep up,” added Ludovic Subran, Chief Economist, Allianz.

“As more firms attempt to scale in 2026, they will face greater exposure to system-reliability issues, data-quality constraints, integration hurdles, and skilled talent shortages. Meanwhile, new liability exposures are emerging around automated decision-making, biased or discriminatory models, intellectual-property misuse, and uncertainty over who is responsible when AI-generated outputs cause harm.”

The Allianz Risk Barometer 2026 shows business interruption falling to third place, marking the first time it has not ranked among the top two risks. Allianz Risk emphasises, however, that business interruption remains a critical issue, as it is often a direct consequence of other threats such as cyber incidents, supply chain disruption, or political developments. Nearly one-third of respondents continue to rank it among their top concerns, underlining its ongoing relevance for corporate risk planning.

Allianz Risk also observes changes in other areas of the ranking. Natural catastrophes have moved down to fifth place compared with the previous year, influenced by lower overall losses during 2025. In contrast, political risks and violence have risen to seventh place, their highest position to date in the survey. Allianz Risk links this increase to heightened uncertainty surrounding international relations, regional conflicts, and government intervention in trade and economic policy.

The report highlights continued strain on global supply chains as a result of shifting trade policies and rising barriers to cross-border commerce. Allianz Risk points to a sharp increase in trade restrictions over the past year, affecting a significant share of global merchandise flows. Despite these pressures, only a small proportion of respondents describe their supply chains as highly resilient.

Allianz Risk notes that this environment is prompting companies to reconsider sourcing strategies, including greater regionalisation and closer alignment with preferred trading partners. Changes in legislation and regulation, including tariffs and trade rules, remain the fourth-ranked global risk, with a growing number of respondents identifying this area as a concern.

Allianz Risk concludes that the 2026 findings reflect a business landscape shaped by closely connected risks, where digital threats, emerging technologies, and political developments interact to increase uncertainty.

The post Cyber tops global business risks as AI surges: Allianz Risk Barometer 2026 appeared first on ReinsuranceNe.ws.

The collaboration focuses on three key projects within Allianz Group designed to empower Allianz employees and accelerate operations, while setting new benchmarks for accuracy.

Oliver Bäte, CEO of Allianz SE, commented: “With this partnership, Allianz is taking a decisive step to address critical AI challenges in insurance. Anthropic’s focus on safety and transparency complements our strong dedication to customer excellence and stakeholder trust.

“Together, we are building solutions that prioritize what matters most to our customers while setting new standards for innovation and resilience.”

The collaboration will initially focus on three core areas, where joint projects are already underway:

1. Empowering People and Reimagining Code with AI – Alianz is integrating Anthropic’s “Claude” models into its internal AI platform. This includes using Claude Code to assist thousands of developers and employing Model Context Protocols (MCPs) to securely integrate data sources across the group.
2. Agentic AI Automation for Speed and Customer Excellence – Allianz and Anthropic are developing custom AI agents capable of orchestrating multi-step workflows and automating labour-intensive processes at scale – from intake documentation to claims processing in areas like motor and health insurance. These agents aim to reduce and accelerate payments while maintaining the “human-in-the-loop principle” for sensitive or very complex cases, where Allianz employees take over.
3. Driving Transparency and Compliance with AI – The partnership is co-developing AI systems designed to meet insurance-specific risks and regulatory requirements by meticulously logging every decision, rationale, and data source. This aims to ensure that all actions taken by the AI are completely traceable and fully compliant.

This collaboration aligns with Anthropic’s Responsible Scaling Policy with Allianz’s customer-centric focus. The insurer already uses AI for real-time roadside assistance and rapid pet insurance payouts; this partnership scales those capabilities further.

“Insurance is an industry where the stakes of using AI are particularly high: the decisions can affect millions of people. Allianz and Anthropic both take that very seriously, and we look forward to working together to make insurance better for those who depend on it,” said Dario Amodei, CEO and Co-Founder of Anthropic.

The post Allianz partners with Anthropic to accelerate adoption of responsible AI appeared first on ReinsuranceNe.ws.

This follows Allianz’s announcement on 17th March 2025 that it had agreed to sell its 26% stake in the non-life and life insurance joint ventures in tranches. Allianz expects to complete the sale of the remaining 3% stake by the second quarter of 2026.

Allianz’s partnership with Bajaj was initiated in 2001 and has contributed to shared growth and success. However, Allianz’s ability to operate in the Indian market has remained limited due to its minority position in the joint ventures.

The decision to divest followed constructive and amicable discussions with Bajaj, and Allianz expressed its gratitude for the smooth approval process with the relevant authorities since the transaction was announced.

Allianz expects to recognise a non-operating IFRS gain of approximately €1.1 billion from the transaction in its first-quarter 2026 results and anticipates a positive impact of around 5 percentage points on its Group Solvency II ratio.

During 2026, Allianz plans to deploy the IFRS gain towards strategic growth and productivity initiatives, as well as the realisation of losses to accelerate the reinvestment of fixed income instruments into higher yields. These actions are expected to support future profitability and create future options.

Allianz continues to view India as an important growth market and aims to remain active in serving the country’s dynamic and rapidly expanding insurance sector.

As announced on 18 July 2025, Allianz, through its wholly owned subsidiary Allianz Europe B.V., and Jio Financial Services Limited (JFSL) entered into a binding agreement to form a 50:50 domestic reinsurance joint venture and into a non-binding agreement for setting up equally owned joint ventures for both general and life insurance businesses in India.

The post Allianz completes €2.1bn sale of stakes in two JVs to Bajaj Group appeared first on ReinsuranceNe.ws.