Finance
Allianz completes sale transaction of Lebanon operations to Global Gate Capital
The Allianz Group, one of the world’s leading insurers and asset managers, announced that it had completed a transaction regarding the sale and transfer of its operations in Lebanon to Global Gate Capital (GGC Group), a leading Asset Manager, as the Munich-based group streamlines its operations.
“In GGC Group, we have found a trusted partner for our customers and employees in Lebanon,” says Chris Townsend, Member of the Board of Management of Allianz SE, Global Insurance Lines & Anglo Markets, Iberia & Latin America, Middle East, Africa.
Allianz Group’s solvency capitalization and cash position are not affected.
About Allianz
**As of March 31, 2023
***As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17.
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