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Munich / Brussels (dpa) - As planned, Allianz has sold a package of around 90,000 Belgian life insurance contracts to the primary insurer and reinsurer Monument Re.
The Belgian supervisory authority has approved the deal, announced the Munich Allianz group on Thursday.
He had agreed the sale of the closed portfolio of classic life insurance contracts, including the associated assets, with Monument Re last August.
After a transition period that will last until 2022, the Belgian Monument subsidiary MAB is to continue the contracts until they expire.
In the future, Allianz in Belgium wants to concentrate on new types of life insurance contracts that tie up less capital.
In Germany, too, the group no longer relies on classic life insurance contracts with guaranteed interest rates for new business, but on products with stripped-down guarantees.
However, the group has repeatedly ruled out a sale of the old contracts for its German business, most of which still have a decade-long term ahead of them.
© dpa-infocom, dpa: 210401-99-57301 / 2