Allianz sells its stake in its subsidiary in China

Allianz has transferred its 22.95% stake to the capital of its joint venture CPIC Allianz Health Insurance. The group China Pacific Insurance (CPIC) has acquired 8% and the remaining 14.95% goes to China Pacific Life Insurance.

The transaction has been approved by the Chinese regulatory authority (CBIRC). CPIC now holds 85% of the health insurer's capital.

CPIC Allianz Health Insurance shall pursue its activities under the name of CPIC Health Insurance.