Business
Allianz : National Bank of Greece and Allianz SE sign a Memorandum of Understanding on minority stake in Allianz Greece and exclusive bancassurance
Allianz : National Bank of Greece and Allianz SE sign a Memorandum of Understanding on minority stake in Allianz Greece and exclusive
About this update from Allianz Se
National Bank of Greece and Allianz SE sign a Memorandum of Understanding on minority stake in Allianz Greece and exclusive bancassurance Allianz SE | Athens / Munich | May 07, 2026 National Bank of Greece and Allianz SE have signed a Memorandum of Understanding setting out the intention for National Bank of Greece to acquire a 30% minority equity stake in Allianz European Reliance. The Memorandum of Understanding also sets out the intention to enter into a long-term exclusive bancassurance agreement between National Bank of Greece and Allianz European Reliance. The envisaged partnership is intended to broaden customer access to life, health and non-life insurance solutions through National Bank of Greece's banking channels National Bank of Greece (NBG) and Allianz SE today announced that they have signed a Memorandum of Understanding (MoU) setting out the intention for NBG to acquire a 30% minority equity stake in Allianz European Reliance (Allianz Greece), subject to the signing of definitive agreements and receipt of customary regulatory approvals. The MoU also sets out the intention to enter into a long-term exclusive bancassurance agreement between NBG and Allianz Greece for an initial term of 10 years, with an automatic five year extension subject to agreed conditions. Partnership structure The MoU reflects a shared intention by NBG and Allianz SE at a shareholder level, and by NBG and Allianz Greece at operating level, to develop bancassurance as a long-term growth model designed to go beyond a standard distribution arrangement. What this means for customers The envisaged partnership is intended to support customers to protect what matters, plan ahead and prepare for long-term financial security, by making insurance and savings solutions simpler and more accessible through an integrated banking and insurance experience. Aligned long-term development Under the envisaged bancassurance arrangement, Allianz Greece would provide a comprehensive portfolio of life, health and non-life insurance solutions, including protection as well as savings- and investment-linked products, distributed through NBG's physical and digital channels. Allianz Greece would contribute its insurance expertise, including product development and underwriting, while working in partnership with NBG on customer interactions. The intended minority equity participation in Allianz Gre...