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    ALV   DE0008404005

ALLIANZ SE

(ALV)
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Allianz Reportedly Planning to Offload Large US Life Portfolio

09/24/2021 | 02:49pm EDT

Allianz SE (XTRA:ALV) is working to offload a large block of U.S. life insurance policies in a move that could free up several billion dollars in capital, people with knowledge of the matter said. Allianz is discussing a potential reinsurance deal for a portfolio with tens of billions of dollars in assets and liabilities, according to the people. It is working with advisers on the possible transaction, the people said, asking not to be identified because the information is private. Such deals are attractive to insurers as it helps them manage risk. These insurance blocks have become popular targets for private equity buyers including Apollo Global Management Inc., which set up Athene Holding Ltd., and KKR & Co. as they seek to eke out returns in a low interest-rate environment. Blackstone Group Inc. and Carlyle Group Inc. have also been working to beef up their presence in the insurance industry as they seek to amass assets that can provide a steady stream of fees. A deal would come as Allianz contends with the fallout from lawsuits and U.S. probes into a group of funds that imploded a year ago, a matter that threatens to impact future earnings. Deliberations are ongoing, and details of the potential transaction could change, the people said. A representative for Allianz declined to comment.


© S&P Capital IQ 2021
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Financials
Sales 2021 144 B 167 B 167 B
Net income 2021 8 399 M 9 763 M 9 763 M
Net Debt 2021 24 760 M 28 782 M 28 782 M
P/E ratio 2021 9,73x
Yield 2021 5,26%
Capitalization 81 011 M 94 330 M 94 170 M
EV / Sales 2021 0,74x
EV / Sales 2022 0,70x
Nbr of Employees 150 269
Free-Float 99,9%
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Technical analysis trends ALLIANZ SE
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Mean consensus BUY
Number of Analysts 20
Last Close Price 198,58 €
Average target price 231,32 €
Spread / Average Target 16,5%
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Managers and Directors
Oliver Bäte Chief Executive Officer
Giulio Terzariol CFO, Head-Finance, Controlling & Risk
Michael Diekmann Chairman-Supervisory Board
Barbara Karuth-Zelle Chief Operating Officer
Renate Wagner Head-Human Resources, Legal & Compliance
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