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Allianz Completes Sale of Allianz Life Insurance Korea to Anbang

Seoul/ Singapore/ Munich, 30th December 2016 -- Allianz SE, the international financial services company headquartered in Munich, today announced it has successfully concluded the sale of Allianz Life Insurance Korea to Anbang Group Holdings.

Allianz announced in April 2016 that it would sell its South Korean life insurance operations to Anbang. The transaction followed an extensive review by Allianz to secure long-term growth for Allianz Life Insurance Korea.