STATISTICS:

ALLIANZ completes sale of part of its life insurance portfolio in Taiwan to CHINA Life

ALLIANZ has announced that it has completed the sale of part of its traditional life insurance portfolio in Taiwan to CHINA Life Insurance Co.

"ALLIANZ remains fully committed to its life insurance business in Taiwan and will continue to accelerate its growth and innovation agenda to provide customers with superior protection solutions in this key market", the German insurer said in a statement.

The agreement was announced in November 2017 and includes the sale a part of traditional life insurance portfolio of ALLIANZ Taiwan Life Insurance to CHINA Life Insurance, headquartered in Taipei, Taiwan.

"The transaction includes a portfolio of approximately 78,000 policies with a guaranteed interest rate of 4 percent or higher, with a combined IFRS policy reserves of EUR 1.2 billion", as ALLIANZ announced at that time.

"ALLIANZ Taiwan Life employees will not be impacted by the deal. (...) Under this agreement, all related assets and liabilities of the respective portfolio will be transferred to CHINA Life, with full protection of customer interests and rights".

ALLIANZ Taiwan Life is the largest multinational life insurance company in Taiwan by gross written premiums in 2016. Since entering the market in 1995, ALLIANZ Taiwan Life has maintained a leading market position with an agency force of over 2,500 and a network of strategic bank partnerships.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

GENERALI successfully placed a subordinated bond for EUR 500 million

Generali has launched on 21 January a subordinated bond with a 10 years bullet format targeting institutional investors for an overall amount of EUR 500 million. At the initial yield guidance of 4.625%, the issuance attracted around 450 orders for more than EUR 6.5 billion, more than 13 times the target size.

2019-01-22

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

2019-01-18

ON THE MOVE

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

18.01.2019

TOP EVENT

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.

10.01.2019

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all