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16 October 2006

Allianz completes conversion into SE

Allianz has announced that the last step of its merger with Italian subsidiary RAS has been completed with the listing of the Allianz share on the Italian stock exchange. This follows Allianz's conversion into a Societas Europaea last Friday. Allianz is the first company on the DJ EURO STOXX 50 Index to take this step.

'In the first instance, the decision to convert to SE status was the most efficient tool for delivering the most efficient merger with our Italian subsidiary RAS,' says Michael Diekmann, CEO of Allianz. 'By fully integrating RAS into Allianz, we simplify our operating structures in Europe, and this in turn means that we are better positioned to capture the long-term business opportunities in Europe.'

'Europe is a core growth market for Allianz,' says Diekmann. 'Not only is the EU a politically stable region with more than 450 million people, but it is also an ageing society with the need for reform in the area of pensions and health.

Allianz also announced an upcoming pan-European pension offer, the index-linked life insurance in Central and Eastern Europe or pan-European asset management funds.

Press release

© Allianz

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