Mohammad Al Rasheed

Baker McKenzie Guides Allianz in Sale of Saudi Fransi Stake 

Global law firm, Baker McKenzie has advised Allianz Group, a renowned global insurer and asset manager, on the divestment of its 51% shareholding in Allianz Saudi Fransi Cooperative Insurance Co (Allianz Saudi Fransi) to Abu Dhabi National Insurance Company (ADNIC). This strategic transaction, which closed on April 17, 2024, subsequent to obtaining regulatory approvals, signifies a significant development in the insurance landscape. 

The Baker McKenzie transactional team was led by Corporate partner Mohammad Al Rasheed (pictured) and was supported by senior associate Haya Massoud and associates Rami Younes and Tina-Maria Kassouf.  

Mohammad Al Rasheed, remarked on the significance of the transaction, stating: “It was a pleasure to have advised Allianz Group on the sale of their majority stake in Allianz Saudi Fransi. This deal had a number of unique aspects and will serve as a blueprint for other transactions in the future. We extend our congratulations to the Allianz Group on this milestone achievement.”