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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Allianz Ag Muenchen Namen (PK) | USOTC:ALIZF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.77 | 1.30% | 293.90 | 281.04 | 293.90 | 293.90 | 293.90 | 293.90 | 1 | 15:26:42 |
From Jul 2019 to Jul 2024
German insurer group Allianz SE (ALV.XE) Friday confirmed it will no longer pursue the life insurance market in Japan, but will continue to honor previously signed contracts.
From early 2012, Allianz won't offer life insurance contracts in Japan, a spokesman said, confirming a report by Nikkei.
A withdrawal from the market comes amid a major sales slump in Japan due to the stock market downturn and low interest rates. The move is also part of Allianz's efforts to streamline unprofitable operations and buffer itself against fallout from the European sovereign debt crisis, according to the Nikkei report.
Allianz Life Insurance Japan Ltd. has handled mainly single-premium variable annuity products. In fiscal 2010, the local unit added about 17,000 new contracts and generated Y127.5 billion in premium revenues. However, sales have been plunging since the start of the current fiscal year. As of the end of August, it had a total of 35,000 contracts.
Allianz Fire & Marine Insurance Japan Ltd. and four other group firms will continue operating in Japan.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.
1 Year Allianz Ag Muenchen Namen (PK) Chart |
1 Month Allianz Ag Muenchen Namen (PK) Chart |
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