German insurer Allianz (ALVG.DE) is preparing to wind down Iran-related business due to possible U.S. sanctions, a spokesman said on Tuesday. “We are analyzing our portfolio to identify Iran-related business,” he said in an e-mailed statement. “This analysis is ongoing and we are developing wind-down plans for relevant business to ensure appropriate termination within the defined periods.” (May 15, 2018).
Allianz participated in the Iran Post Sanctions Business forum (the “Forum”) in Berlin on January 24-25, 2017.
In January 2016, however, Reuters reported that Allianz “would evaluate potential opportunities in the country [Iran].” (Reuters, “Global insurers plot cautious course to Iran,” 1/24/2016).
"Allianz SE (ALV.XE), Europe's largest primary insurer by gross premiums, said Friday it is suspending business in Iran amid calls for tighter sanctions against the country after the International Atomic Energy Agency censured Tehran for its nuclear enrichment program.
'Allianz has decided not to renew insurance treaty business in Iran because of political developments in the region. This business amounts to negligible premiums,' Allianz said in a statement, without being more specific." (Dow Jones Newswires, "Allianz Suspends Iran Business, Hannover Re Honors Sanctions," 2/19/10)
Allianz making plans to wind down Iran business. (5/15/2018)
Allianz stated it is suspending its business in Iran. (February 19, 2010)