Greenberg Traurig has advised Allianz on the mergers of the respective companies within the Allianz Group and Aviva Group in Poland.
According to Greenberg Traurig, “the mergers of Allianz’ and Aviva’s Polish insurance companies, mutual funds, and pensions companies in 2022 was a result of the acquisition of Aviva’s operations in Poland and Lithuania by Allianz for over EUR 2.5 billion in 2021. The mergers and debranding of Aviva’s life and non-life insurance operations, as well as mutual funds companies, were completed in July 2022. The merger of pension companies, on December 30, 2022, completed the integration and debranding process, which resulted in the Aviva brand ceasing to be present in Poland.”
According to the firm, “as a result of the acquisition and mergers, Allianz has become Poland’s second largest player in the life insurance segment, the sixth largest in the non-life insurance segment (in terms of gross written premiums for 2021),dea the fourth largest player in the mutual fund segment, and second largest pensions manager with approximately PLN 40 billion of assets under management.”
Greenberg Traurig also advised Allianz on the initial acquisition transaction – for Aviva Group’s life and non-life insurance operations and the pension and asset management business in Poland and Lithuania – almost two years ago (as reported by CEE Legal Matters on March 31, 2021).
Greenberg Traurig’s team included Senior Partner Lejb Fogelman, Partners Lukasz Pawlak, Stephen Horvath, and Anna Halas-Krawczyk, Local Partner Michal Bobrzynski, Of Counsel Adam Opalski, Senior Associates Agata Izyk and Natalia Wolkowycka, and Associates Angelika Makar, Monika Lukacijewska-Widacka, Marta Poplawska, Michal Baldowski, Maciej Jablonski, Adam Andula, Przemyslaw Nycz, Julia Dopierala, and Natalia Potrubacz.
The Allianz in-house legal team included Senior Legal Counsel Alexander Franz and Regional Head of Legal and Compliance for CEE Daniel Guenther.