Allianz completes reinsurance deal for $ 35 billion U.S. fixed index annuity portfolio

Allianz SE

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Allianz concludes a reinsurance transaction for $ 35 billion we fixed index annuity portfolio

  • Agreement with Life Resolution and affiliates of Sixth street was announced on December 3
  • Transactions unlock $ 4.1 billion in value and frees up regulatory capital for Allianz

Munich, January 07, 2022

Allianz Life announced today that it has entered into the reinsurance agreement with affiliates of Sixth street, including Talcott Resolution Life Insurance Company, and Life Resolution, for a $ 35 billion fixed index annuity portfolio.

The operation, announced on December 3, unlock $ 4.1 billion in value and frees up regulatory capital for Allianz.

Allianz Life continues to manage the administration of the portfolio policies and will remain responsible for meeting its obligations to policyholders. There are no changes to policy servicing, call center management, claims adjudication, statement generation and delivery, channel partner experience, and digital self-service.

PIMCO and Global investors Allianz remain the main asset managers of the reinsured business.

For more information, please contact:

Allianz SE

Chairman of the Supervisory Board : Michel Diekmann. Board of directors: Olivier

Koeniginstr. 28

Bäte, chairman; Sergio balbinot, Andreas Wimmer, Dr. Barbara karuth-zelle,

80802 Munich; Germany

Dr Klaus-Peter Röhler, Iv an de la Sota, Giulio Terzariol, Dr Günther Thallinger,

Telephone: +49 89 3800 18475

Christophe Townsend, Renate wagner (Exit / Stand 10.2021). For VAT:

Fax: +49 89 3800 2114

Intra-community VAT number: DE 129 274 114; Insurance services are exempt from VAT.

Allianz SE, Munich, Reg. Comm .: Munich HRB 164232

On Allianz

The Allianz group is one of the world’s leading insurers and asset managers with 120 million1 individual and corporate clients in more than 70 countries. Allianz clients benefit from a wide range of personal and commercial insurance services, ranging from property, life and health insurance to support services to credit insurance and comprehensive commercial insurance. Allianz is one of the largest investors in the world, managing approximately 802 billion euros on behalf of its insurance clients. In addition, our asset managers PIMCO and Global investors Allianz manage € 1.9 trillion assets of third parties. Through our systematic integration of ecological, social and governance criteria into our business processes and investment decisions, we occupy the leading position for insurers in the Dow Jones Sustainability Index, launched on 12.11.2021. In 2020, more than 150,000 employees achieved a total turnover of 140 billion euros and an operating result of 10.8 billion euros for the group.

These reviews are, as always, subject to the disclaimer below.

Caution regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, which are based on the current views and assumptions of management and are subject to known and unknown risks and uncertainties. Actual results, performance figures or events may differ materially from those expressed or implied in these forward-looking statements.

Deviations may arise due to changes in factors including, but not limited to the following: (i) the general economic and competitive situation in the Allianz core business and core markets, (ii) financial market performance (in particular market volatility, liquidity and credit events), (iii) adverse publicity, regulatory actions or litigation concerning Allianz Group, other well-known companies and the financial services industry in general, (iv) the frequency and severity of insured losses, including those resulting from natural catastrophes, and the evolution of claims expenditure, (v) the levels and trends in mortality and morbidity, (vi) levels of persistence, (vii) extent of defaults, (viii) levels of interest rates, (ix) exchange rates, including exchange EUR / USD, (x) changes in laws and regulations, including tax regulations, (xi) impact of acquisitions, including integration issues and associated reorganization measures, and (xii) general conditions of competition which, in each individual case, apply at local, regional, national and / or global level. Many of these changes can be exacerbated by terrorist activity.

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