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Germany $587 Billion Allianz Global Investors Receives China Approval for $39 Million Investment to Acquire 2% of Guomin Pension & Insurance Company Founded in 2022 to Promote Development of China Private Pension Market, Becomes First Foreign Asset Manager to be Allowed to Own Shares of Guomin Pension & Insurance Company
11th December 2024 | Hong Kong
Germany Allianz Global Investors ($587 billion AUM) has received China regulatory approval for $39 million investment to acquire 2% of Guomin Pension & Insurance Company, founded in 2022 to promote development of china private pension market. Allianz Global Investors becomes the first foreign asset manager to be allowed to own shares of Guomin Pension & Insurance Company. Allianz Global Investors (10/12/24): “Allianz Global Investors (“ AllianzGI”), one of the world’s leading active asset managers, announced today that it has received regulatory approval for the investment of a 2% stake in Guomin Pension & Insurance Company Limited (“Guomin Pension”), becoming the first foreign asset manager to own a stake in Guomin Pension. Established in 2022, Guomin Pension was jointly launched by China’s large financial institutions to promote the development of China’s private pension market. Guomin Pension serves as an important part of China’s active response to its ageing population and its presence will help the overall development of the third pillar pension market in China. AllianzGI has received approval to subscribe to around 228 million newly issued shares in Guomin Pension worth approximately RMB 284 million (USD 39 million). This will result in an increase in Guomin Pension’s registered capital to around RMB11.378 billion, which has been approved by the National Financial Regulatory Administration … … The market size of China’s third pillar personal pensions system, launched in 2018 as pilot schemes, is projected to grow to RMB 4 trillion under the existing regulatory landscape by 2030, and may reach RMB 7 trillion if additional reforms are implemented. Together, AllianzGI and Guomin Pension are determined to leverage the resources and expertise of both companies to provide products and services that are more inclusive, diverse, and accessible to the general public in China.” In 2024 June, Germany Allianz Global Investors has been allowed to buy $39 million of China state-owned China pension insurance group Guomin Pension & Insurance, representing 2% of shareholding via new share issue. Allianz Global Investors is the first foreign shareholder in a China state-owned pension insurance group. Guomin Pension & Insurance was founded in 2022 to promote development of the China private pension market.
“ Germany $587 Billion Allianz Global Investors Receives China Approval for $39 Million Investment to Acquire 2% of Guomin Pension & Insurance Company Founded in 2022 to Promote Development of China Private Pension Market, Becomes First Foreign Asset Manager to be Allowed to Own Shares of Guomin Pension & Insurance Company “
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Tobias Pross, CEO at Allianz Global Investors: “We are proud to announce this strategic investment in Guomin Pension, the latest important milestone in our long-term growth plan in a country where we see significant market opportunities. China’s pension market is growing fast. By drawing on our decades of international markets experience, along with our extensive expertise in areas including risk management, product development and asset allocation, we think we can help Guomin Pension deliver innovative solutions that best meet the country’s retirement needs.”
Allianz Global Investors – Allianz Global Investors is a leading active asset manager with over 600 investment professionals in over 20 offices worldwide and managing EUR 560 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
Germany Allianz Global Investors Buys $39 Million of China State-Owned China Pension Insurance Group Guomin Pension & Insurance Representing 2% of Shareholding via New Share Issue, Founded in 2022 to Promote Development of China Private Pension Market
25th June 2024 – Germany Allianz Global Investors has been allowed to buy $39 million of China state-owned China pension insurance group Guomin Pension & Insurance, representing 2% of shareholding via new share issue. Allianz Global Investors is the first foreign shareholder in a China state-owned pension insurance group. Guomin Pension & Insurance was founded in 2022 to promote development of the China private pension market. Earlier in June 2024, Germany insurance & asset management giant Allianz is in talks with Singapore Income Insurance group in a potential share transaction. Income Insurance has around $31 billion assets, and was previously known as NTUC Income Insurance Co-operative. Allianz current market value is around $108 billion (19/6/24), and owns leading global asset managers PIMCO & Allianz Global Investors. Income Insurance (14/6/24): “Income Insurance Limited (“Income Insurance”) wishes to announce that it is currently in discussion with Allianz on a transaction relating to the shares of Income Insurance (the “Shares”). Income Insurance wishes to emphasise that there is no assurance that any transaction will materialise or that any definitive or binding agreement will be reached. Income Insurance will make further announcements if and when there are any material developments which warrant disclosure, in compliance with applicable laws and regulations. Shareholders of Income Insurance (“Shareholders”) are advised to exercise caution when dealing in the Shares and to refrain from taking any action in respect of the Shares which may be prejudicial to their interests. Shareholders are advised to read this Announcement and any further announcements by Income Insurance carefully. In the event that Shareholders wish to deal in the Shares, they should seek their own professional advice. The directors of Income Insurance (including any director who may have delegated detailed supervision of the preparation of this Announcement) have taken all reasonable care to ensure that the facts stated and opinions expressed in this Announcement are fair and accurate and that there are no other material facts not contained in this Announcement, the omission of which would make any statement in this Announcement misleading. The directors of Income Insurance jointly and severally accept responsibility accordingly.”
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