, Saudi Arabia
/Ryoji Iwata from Unsplash

Allianz sells 51% stake in Saudi unit

Abu Dhabi National Insurance is the buyer.

Allianz Group finalised the sale of its 51% stake in Allianz Saudi Fransi to Abu Dhabi National Insurance (ADNIC), a regional insurance provider based in the UAE and listed on the Abu Dhabi Stock Exchange. 

The binding agreement for this transaction was initially reported on 28 September 2023.

This move, part of Allianz Group’s strategy to streamline operations in the Middle East, has received regulatory approvals.

ALSO READ: Suncorp sells NZ life insurance business

However, employees and customers of Allianz Saudi Fransi will not be impacted by the transaction.

Allianz's Global Lines businesses in Saudi Arabia, including Allianz Global Investors, PIMCO, Allianz Trade, Allianz Partners, and Allianz Re, will continue to deliver tailored products and services.

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Chinese insurers deem it wise to move to alternative investments
Analysts see new regulations driving a conservative shift as insurers seek stability amidst volatile markets.
Is ‘Londonisation’ good for Asia’s M&A insurance market?
Industry experts dissect the region’s low usage rates for M&A insurance despite more industry players entering the field.
Markel targets professional indemnity market in Australia
Head of professional and financial risks, Kym Beazleigh, explains the game plan in Markel’s strategic expansion.