Allianz: acquisition in Asia-Pacific region
(CercleFinance.com) - Allianz has entered into an agreement with Sri Lanka's Janashakthi Insurance to acquire its general insurance unit for 85.
9 million euros, the German group said on Friday.
The transaction - which is expected to be completed in the first quarter of 2018 - will give Allianz approximately a 20% market share in Sri Lanka, the insurer said.
Janashakthi General Insurance Limited (JGIL) has a client base of close to one million customers, Allianz said, which aims to accelerate growth in the Asia-Pacific region.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
9 million euros, the German group said on Friday.
The transaction - which is expected to be completed in the first quarter of 2018 - will give Allianz approximately a 20% market share in Sri Lanka, the insurer said.
Janashakthi General Insurance Limited (JGIL) has a client base of close to one million customers, Allianz said, which aims to accelerate growth in the Asia-Pacific region.
Copyright (c) 2018 CercleFinance.com. All rights reserved.