FRANKFURT – The chief executive of top German asset manager DWS will step down next week, he said on Wednesday, a day after raids by prosecutors over allegations that the company misled investors about “green” investments. The raids and departure …
The star portfolio manager at the center of a fraud at the U.S. funds unit of Allianz SE relied on the German insurer’s good name to lure investors and thrived from a lack of oversight as he pocketed $60 million …
Germany’s Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the COVID-19 pandemic. Allianz’s settlements with the …
Germany’s Allianz said on Wednesday it would set aside another 1.9 billion euros ($2 billion) as it braces for the outcome of U.S. regulatory investigations into a multibillion-dollar trading debacle at its funds arm. The collapse of a $15 billion …
A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar trading debacle at the German insurer’s funds arm, according to a court document. The Arkansas Teacher Retirement System was the …
Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia. The German insurer and Swiss reinsurer join banks Deutsche, Goldman Sachs and JPMorgan Chase which have exited …
A number of big investors on Monday filed to end their lawsuits against Allianz after a settlement was reached over their losses in a multibillion-dollar trading debacle at the German asset manager’s funds arm. The move marks an important milestone …
Allianz ALVG.DE has dismissed two asset managers who oversaw a group of investment funds that collapsed after racking up massive losses when the spread of coronavirus triggered wild market swings, according to regulatory filings. The downfall of the $15 billion …
German insurer and asset manager Allianz ALVG.DE on Thursday said it would set aside 3.7 billion euros ($4.20 billion) to deal with investigations and lawsuits resulting from the collapse of a multi-billion-euro set of investment funds. The provision resulted in …
FRANKFURT – A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the insurance industry. The tactic urged by The …
