Dehua AnGu Life Insurance's Capital Increase Approved, AnGu Firmly Commits to Long-Term Development in China

On December 12, Allianz announced that the capital increase plan of its Chinese joint venture, Dehua Allianz Life Insurance Co., Ltd. (hereinafter referred to as "Dehua Allianz Life"), amounting to RMB 1.545 billion, has been officially approved by the Shandong Regulatory Bureau of the National Financial Supervisory Administration. Allianz SE and its subsidiary Allianz Lebensversicherungs-AG will jointly contribute RMB 1.00425 billion, accounting for 65% of the total; while Shandong Provincial State-owned Assets Investment Holding Co., Ltd. will contribute RMB 540.75 million, representing 35%. After the capital increase, Dehua Allianz Life's registered capital will rise from RMB 2.24 billion to RMB 3.785 billion. This capital injection will enhance the company’s solvency and lay a solid foundation for its long-term, stable development.

Allianz Group is one of the leading insurance groups in Germany and Europe. This capital increase marks another significant step following Allianz Group becoming the controlling shareholder of Dehua Allianz Life through equity restructuring in 2023, providing strong support for the company’s stable operations and business upgrades, and continuously fulfilling its long-term commitment to the Chinese market.

Established in 2013 by Allianz Group and its affiliated companies together with Shandong Provincial State-owned Assets Investment Holding Co., Ltd., Dehua Allianz Life is the first national life insurance legal entity headquartered in Shandong, a major economic province. Over the past decade, Dehua Allianz Life has consistently adhered to a value-oriented strategy, focusing on high-value businesses such as long-term premium payment and protection products, and steadfastly implementing its differentiated individual insurance strategy. The company has achieved profitability and will steadily advance toward sustained profitability by accelerating innovation in products, services, and sales models. Dehua Allianz Life will continue to serve as a growth engine for Allianz Group’s operations in China and actively contribute to the development of China’s insurance industry.

Allianz entered the Chinese market in 2005, engaging in life insurance, property insurance, health insurance, related services, insurance brokerage, travel assistance, and other fields. In recent years, Allianz has continuously increased its investment in China. In 2021, Allianz invested in Taishan Insurance through capital increase, officially entering China’s property insurance market. In 2023, Allianz Fangsheng Insurance Brokerage Co., Ltd., a joint venture between Allianz and Beijing Foreign Enterprise Human Resources Service Co., Ltd., obtained an insurance brokerage license. These strategic moves reflect Allianz Group’s firm confidence in the long-term growth potential of the Chinese insurance market.

"The Chinese insurance market offers deep development potential and broad long-term prospects, making it a key market within Allianz Group’s international strategy. This capital increase further strengthens Allianz’s life insurance presence in China and will support Dehua Allianz Life in building differentiated capabilities. We firmly believe that only by rooting ourselves locally and achieving collaborative success can we realize sustainable development," said Jürgen Schmitz, CEO of Allianz China and Vice Chairman of Dehua Allianz Life.

"We believe that with shareholders’ support, Dehua Allianz Life will maintain strategic focus, accelerate professional operational capabilities across all channels through digital and knowledge empowerment, solidly promote channel transformation and development, and continue to deepen its focus on value-driven business," said Yin Xiaosong, Director and General Manager of Dehua Allianz Life.

Recently, Allianz Group announced the successful achievement of its previous five-year strategic goals. Looking ahead to the next five-year strategy targeting 2030, the group will further accelerate its international expansion, positioning international operations as a key pillar for profitable growth. As a crucial component of the group’s global footprint, the Chinese market continues to hold a significant strategic position. Going forward, Allianz Group will leverage global resources and work closely with local partners to continuously create value for customers and partners in China, offering attractive and differentiated products and services.