Following the announcement on 7 May 2026 regarding the Memorandum of Understanding (MoU) with Allianz SE, National Bank of Greece (NBG) announces that it has signed a Share Purchase Agreement for the acquisition by NBG of a 30% minority stake in Allianz European Reliance, as well as a Bancassurance Agreement between NBG and Allianz European Reliance covering the long-term exclusive distribution of life, health and general insurance products through NBG’s banking networks, which is expected to begin in early 2027.
Completion of the share purchase transaction is subject to customary conditions precedent, including receipt of the required regulatory approvals.
Barclays Bank Ireland PLC acted as NBG’s exclusive financial adviser.
Freshfields Bruckhaus Deringer LLP and Karatzas & Partners acted as international and domestic external legal advisers, respectively; Oliver Wyman acted as commercial adviser, and EY as actuarial and accounting adviser to NBG.