Pacific Investment Management Co. (PIMCO) News

Once Known as the ‘Bond King,’ Gross Retires After 40-Year Career

Bill Gross, who transformed bond investing over a storied four-decade career, is leaving the stage after a tough final chapter. Gross, who announced his retirement Monday, struggled in the last four years as head of the Janus Henderson Global Unconstrained …

PIMCO and Allianz Partner to Launch Insurance Linked Securities Business

PIMCO, the Newport Beach, Calif.-based fixed income investment manager, has hired Rick Pagnani from Mt. Logan Re as executive vice president, to lead the launch of the firm’s property and casualty insurance linked securities (ILS) business. The ILS market, which …

Allianz Beats Q2 Profit Estimates with Help of PIMCO Bond Fund Unit

Allianz SE said strong growth across its businesses lifted second-quarter profit as Europe’s largest insurer keeps the market waiting on any acquisitions it will undertake. The gains help keep Allianz on track to meet its full-year earnings targets, Europe’s biggest …

Financial Markets’ Volatility Will Hit Allianz’ Fund Business, Warns Board Member

Recent volatility in financial markets will curb inflows this year into Allianz’ asset management business, which includes U.S. bond giant PIMCO, a board member told Reuters. In 2017, Allianz reeled in 150 billion euros ($175.25 billion) in net inflows, a …

Allianz Reports 22% Drop in Q4 Profit but Still Plans Dividend Hike

A record year for natural-disaster insurance claims worldwide and a decline in fourth quarter profit wasn’t enough to stop Allianz SE from raising its dividend. Europe’s biggest insurer will increase the dividend for 2017 by 5.3 percent to 8 euros …

Allianz’s PIMCO Reports Record Q2 Inflows of $62B in Ivascyn-Driven Turnaround

Allianz SE three years ago bet the future of its then $2 trillion bond firm on Dan Ivascyn, a little-known money manager at the time who had been picked to succeed Pacific Investment Management Co. founder Bill Gross. It was …

Allianz Q2 Profit Rises 23% on Restructuring, Fewer Disaster Claims

As Allianz SE Chief Executive Officer Oliver Baete slims down the insurer to cut costs, rising second-quarter profit helped by lower natural disaster claims rewarded his strategy. Operating profit jumped 23 percent to 2.9 billion euros ($3.4 billion), Europe’s largest …

Allianz Sets Its Sights on Asia-Pacific’s ‘Growth Engine’

Allianz SE, the German insurer that stemmed outflows at U.S. asset manager PIMCO, is now trying to bulk up on the other side of the world. “Asia is still a relatively small part of the overall global portfolio but it …

Allianz Q1 Profit Boosted by Strongest PIMCO Inflows in 4 Years

Pacific Investment Management Co., the bond manager owned by German insurer Allianz SE, saw its biggest third-party inflows in four years in the first quarter as clients flocked to Chief Investment Officer Dan Ivascyn’s PIMCO Income Fund. The firm, based …

Allianz Q1 Net Income Down 15.3% to $2B – in Line with 2017 Profit Goal

German insurer Allianz is optimistic about its prospects despite a very tough business environment, the German insurer said on Wednesday as it posted a slightly better than expected first-quarter profit. “We are looking optimistically to the future, though I will …