12 January 2018Insurance

Allianz opens tender offer for Euler Hermes shares

Allianz will open its simplified cash tender offer for Euler Hermes shares on January 15, offering 122 euros per share, after French markets regulator Autorité des marchés financiers (AMF) cleared Allianz tender offer and the related tender offer document.

The tender offer will close on February 13. Allianz said the offer advances its strategy to invest in profitable businesses and strengthen its position in core home markets – and in property and casualty in particular.

Allianz is offering shareholders, inter alia, a 20.7 percent premium to the pre-announcement closing price on November 24, 2017 and a 30.8 percent premium to the 12 month volume weighted average Euler Hermes share price on the same date.

The offer covers 20.57 percent of the share capital and theoretical voting rights of the company that Allianz does not currently own in Euler Hermes.

Join us at Intelligent Automation in Insurance - London 2018. Book by Jan 31st and you could save £400.

More of today's news

AXA UK senior exec departs amid major reshuffle at the insurer

California mudslides losses will reach tens of millions

Verisk launches new programme designed to widen US flood coverage

VIG merges Baltic subsidiaries to offer stronger unified brand

Losses from winter storm Eleanor/Burglind could top €1.5bn

Twelve Capital reveals details of recent private debt deals

European storm Egon's final loss estimate revealed

Don't miss our insurtech email newsletter - sign up today

Already registered?

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Insurance

Allianz attempts to 'squeeze-out and delist' Euler Hermes

23 February 2018 German insurer Allianz is launching a further tender offer for the remaining 5 percent of Euler Hermes shares held by minority shareholders that would result in a squeeze-out procedure and delisting of the trade credit insurer's shares from the Euronext Paris stock exchange.

Insurance

Euler Hermes reveals management shake-up as group CFO and COO depart

13 February 2018 Trade credit insurer Euler Hermes has made three management board changes as its group chief financial officer and chief operating officer are leaving to pursue opportunities outside the company.

Insurance

Allianz partners with JLT for after the event insurance

29 January 2018 Allianz Legal Protection (ALP) and JLT Specialty have created Omnium, a specialist after the event (ATE) insurance solution for insolvency practitioners (IP’s).

Berkshire Hathaway hit by reserving, cat losses in Q3; Geico a bright spark

Property rate trend reversed Q4 as storms gave pause: Ryan Specialty

Kova begins underwriting PI business via Hadron capacity agreement

Marsh unveils carbon credit risk facility backed by Sompo, Brit, Talbot

Trium partners with CyberCube to enhance data & analytics

BHSI strengthens Italy operations with AXA XL, Swiss Re hires

Hurricane Milton may cost Chubb up to $300m

Professional indemnity market softens ‘at greater pace’ than expected

Allianz opens tender offer for Euler Hermes shares

More on this story

Editor's picks

Editor's picks

More articles