Polish regulator’s approval completes regulatory review of Allianz’s acquisition of Aviva’s operations in Poland

November 8th, 2021 

Allianz announces today that the Polish Financial Supervisory Authority (KNF) has approved the change of ownership of the Aviva Group’s operations in Poland.

The acquisition, announced in March 2021, involves Aviva’s life and non-life insurance operations as well as its pension and asset management businesses. Under the transaction, Allianz has also agreed to acquire 51 percent stake each in Aviva’s life and non-life bancassurance joint ventures with Santander. The transaction includes Aviva’s operations in Lithuania.

The approvals from KNF, along with the previously-issued decisions by the European Commission, the Bank of Lithuania and the Lithuanian Commission, complete the required regulatory approvals for the transaction.

The acquisition will be Allianz’s largest deal in a decade. It will position the company to become #2 in the Central Eastern Europe market in terms of operating profit and will make Poland a key market for the Allianz Group.

Once the transaction closes, Allianz will become the fifth-largest insurer in Poland and the second largest player in the life insurance segment1, in terms of gross written premiums.

Petros Papanikolaou, Chief Executive Officer of Allianz Central Eastern Europe, said: