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The Directorate General of Insurance and Pension Funds has announced the approval of the total transfer of the portfolio of the Liechtenstein-based entity Allianz Risk Transfer AG to the German entity Allianz Global Corporate & Specialty SE (Art. 1 Law 20/2015). This operation affects the entity operating in Spain via the freedom to provide services (code L1160). Policyholders with risks located in Spain have a specific right of termination following this change of entity.
Policyholders whose risks are located in Spain have the option to terminate their contracts if they do not wish to continue with the new managing entity (Allianz Global Corporate & Specialty SE). To do so, they have a period of one month from the publication of this resolution, with the right to a refund of any unearned premium.
The tax team reviews your specific situation.
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