Allianz and Sri Ayudhya Capital PCL (AYUD) have completed the expansion of their strategic partnership in Thailand, ensuring a stronger insurance franchise focused on meeting the diverse and growing protection needs of local customers and enhancing the Allianz proposition in the region.
The transaction will result in:
- The combination of Allianz General Insurance (AZTH) and Sri Ayudhya General Insurance (SAGI) to form a larger P/C company well positioned for future growth and innovation
- Key insurance-related entities falling under the Allianz Ayudhya brand — enhancing local market presence and delivering a consistent experience for customers
- Allianz SE becoming the largest shareholder in AYUD
As part of the transaction, AYUD will be renamed Allianz Ayudhya Capital PCL. It continues to be listed on the Stock Exchange of Thailand under the ticker AYUD. Further, Sri Ayudhya General Insurance (SAGI) will be renamed Allianz Ayudhya General Insurance PCL.
Veraphan Teepsuwan remains as chairman of Allianz Ayudhya Capital PCL. Bryan Smith has assumed the role of president and CEO Allianz Ayudhya Capital PCL, as well as the newly created position of country manager, Allianz Thailand, overseeing the overall business in Thailand. He remains the president and CEO of Allianz Ayudhya Assurance PCL, the life insurance business. Lars Heibutzki has been appointed president and CEO of Allianz Ayudhya General Insurance PCL.