Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re January 10, 2023 By Tom Sims and Alexander Hübner Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on...
Head of Deutsche Bank’s Asset Manager Steps Down After ‘Greenwashing’ Raids June 2, 2022 By Tom Sims, Frank Siebelt and Paul Carrel FRANKFURT – The chief executive of top German asset manager DWS will step down next week, he said on Wednesday,...
Architect of Allianz Fraud Made $60 Million as He Lied to Investors, U.S. Says May 18, 2022 By Tom Sims and Alexander Huebner The star portfolio manager at the center of a fraud at the U.S. funds unit of Allianz SE relied on...
Allianz to Pay Over $6B for Structured Alpha Fraud, Former Fund Manager Indicted May 17, 2022 By Tom Sims, Alexander Hübner and Jonathan Stempel Germany’s Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal...
Allianz Sets Aside Another $2 Billion for Structured Alpha Fund Debacle May 11, 2022 By Tom Sims and Alexander Hübner Germany’s Allianz said on Wednesday it would set aside another 1.9 billion euros ($2 billion) as it braces for the...
Arkansas Teachers Fund Agrees to $643M Settlement With Allianz Over Losses March 21, 2022 By Tom Sims A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar...
Swiss Re, Allianz, Other European Financial Services Firms Turn Their Backs on Russia March 14, 2022 By Tom Sims, Simon Jessop and Paul Arnold Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their...
Major Investors to Settle, End Suits Against Allianz Over Losses in Funds Collapse March 1, 2022 By Tom Sims and Jonathan Stempel A number of big investors on Monday filed to end their lawsuits against Allianz after a settlement was reached over...
Allianz Fires 2 Asset Managers Who Ran Group of Collapsed Investment Funds February 22, 2022 By Tom Sims Allianz ALVG.DE has dismissed two asset managers who oversaw a group of investment funds that collapsed after racking up massive...
Allianz Sets Aside $4.2B to Handle Probes, Lawsuits After Collapse of Investment Funds February 18, 2022 By Tom Sims and Alexander Hübner German insurer and asset manager Allianz ALVG.DE on Thursday said it would set aside 3.7 billion euros ($4.20 billion) to...