The Allianz SE logo sits on a top of a building in Berlin, Germany, on Wednesday, Jan. 4, 2017. Germany had another year of firm growth in 2016 and should continue to be propelled in 2017 by consumer spending. (Photo: Krisztian Bocsi/Bloomberg) The Allianz SE logo sits on a top of a building in Berlin, Germany, on Wednesday, Jan. 4, 2017. (Photo: Krisztian Bocsi/Bloomberg)

Allianz SE agreed to pay 667 million euros ($738 million) for the general-insurance assets of SulAmerica, a deal that will make the German firm Brazil's second-largest provider of motor insurance.

Europe's largest insurer will combine the new assets with its existing Brazilian subsidiary to create a business with 1.5 billion euros of gross written premiums, according to a company statement on Friday. The property and casualty insurance market in Brazil is growing at 6% a year and it is by far the biggest in Latin America.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.