SulAmérica has sold its auto and P&C business to Allianz

The shareholders of SulAmérica S.A. have sold the company’s auto and property and casualty (P&C) business to Allianz SE.

SulAmérica, through its subsidiaries, engages in the insurance business in Brazil. Its products and services include health and dental insurance and administrative services, healthcare and well-being solutions, life and personal accident insurance, private pension plans, saving bonds and asset management. The company was founded in 1895 and is headquartered in Rio de Janeiro, Brazil.

Allianz, together with its subsidiaries, provides P&C and life/health insurance and asset management products and services worldwide. The company’s P&C segment offers various insurance products, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit and travel to private and corporate customers. Its life/health segment provides a range of insurance products on an individual and group basis, such as annuities, endowment and term insurance, and unit-linked and investment-oriented products, as well as private and supplemental health and long-term care insurance products. The group’s asset management segment offers institutional and retail asset management products and services to third-party investors, comprising equity and fixed income funds and multi-assets, and alternative investment products, such as infrastructure debt/equity, real assets, liquid alternatives and solutions. Its corporate and other segment provides banking services for retail clients, as well as digital investment management services. Allianz was founded in 1890 and is headquartered in Munich, Germany.

One of Oaklins’ teams in Brazil acted as financial advisor to SulAmérica S.A. on the sale of its auto and other P&C operations to Allianz Group.