At its extraordinary general meeting, Allianz shareholders approved the merger of Italian Allianz subsidiary RAS SpA into Allianz AG. With this, an important step has been made towards transforming the holding company into a 'European Company (SE)'.

By approving the merger plan shareholders have opened the way for the conversion of Allianz AG to a European Company (‘Societas Europaea’ or SE). Therefore, as soon as the merger has taken place Allianz AG will become an SE.

In its new legal form the company will continue its policy of codetermination on a parity basis, while the Allianz supervisory board will be reduced from 20 to 12 members.

The shareholders approved the merger with a clear majority (99.90%). The Allianz board and the RAS supervisory board had already approved the merger plan on December 15 and 16 respectively, and on February 3, RAS ordinary and preferential shareholders gave their approval.

Allianz CEO Michael Diekmann welcomed the positive vote. For us, the merger is an investment in Europe. The lion’s share of our sales and profits originates from our European markets, as do the majority of our customers, shareholders and employees.

We want to use our new, simplified structures to fully exploit the considerable revenue and growth potential offered by this core market.