FRANKFURT – Allianz Chief Executive Officer Oliver Baete said on Thursday that the financial world was getting more dangerous, not safer, setting an ominous tone for investors. Baete, who oversees one of the world’s largest insurers and asset managers, pointed …
Allianz nudged its forecast for record profit in 2021 even higher on Wednesday after a bumper third quarter while it tries to work out how much money it may need to set aside for a U.S. investigation into its fund …
FRANKFURT/WASHINGTON — The U.S. Department of Justice (DOJ) investigation into German insurer Allianz is looking at possible misconduct by fund managers and misrepresentation of risk to investors, three people with knowledge of the matter told Reuters. The probe, disclosed by …
German regulators have launched an investigation into the country’s biggest financial company, Allianz, after the demise of some of its U.S. investment funds last year, people with direct knowledge of the matter told Reuters. The move heightens the pressure on …
Oliver Baete, chief executive officer of Germany’s Allianz, on Friday spoke of a “horrible week” for him and the insurer, his first response to a disclosure that the U.S. Department of Justice was investigating losses at its fund division. Baete, …
UBS and German asset manager DWS are pressing ahead with final bids for the asset management arm of NN Group after Europe’s biggest insurers pulled out of the auction, three sources familiar with the deal told Reuters. Prudential Financial Inc …
Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major provider has opened up such insurance to its clients, the companies said on …
German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday. The world’s largest resinsurer is making the change after it faced large losses this year in the wake of …
Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of the world’s top asset managers, for failing to safeguard their investments during the coronavirus market meltdown. Market panic around the …
German drugs and pesticides group Bayer said on Thursday it will pay around $1.6 billion to settle the majority of U.S. claims involving its Essure birth-control device. The agreement follows a $10.9 billion settlement in June of U.S. lawsuits claiming …
