Banking & Finance German insurer Allianz weighs stake sale in Saudi subsidiary By Pramod Kumar August 9, 2022, 5:35 AM German insurer Allianz SE is weighing a sale of its Saudi Arabian unit, Bloomberg reported, citing people familiar with the matter. The German insurer is working with an adviser on the potential disposal of its controlling stake in Allianz Saudi Fransi Cooperative Insurance Co. Other insurers have expressed preliminary interest in acquiring the business. Deliberations are in the early stages and Allianz could still decide to retain the asset, the sources added. Established in 2007, Allianz Saudi Fransi is a joint venture between the Allianz Group and Saudi-listed Banque Saudi Fransi. Allianz owns a 51 percent stake in the venture, the report said. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
