Allianz SE reported an unexpected decline in fourth-quarter profit as the exit of Bill Gross at Pacific Investment Management Co. (PIMCO) spurred clients to withdraw assets. The shares fell the most in five months. Net income fell to 1.22 billion …
As creditors fight over the scraps of the bankrupt operating unit of Caesars Entertainment Corp., a three- person panel will soon decide whether investors who bought default insurance should get paid from contracts that expired nearly a month before the …
Fosun Group, China’s biggest closely- held conglomerate, hired Hong Kong’s best-performing bond fund manager from Bocom International Holdings Co. to manage investments for its European insurers. Tongli Han, 36, will be the global chief investment officer for fixed income at …
Allianz SE named board member Oliver Baete to succeed Michael Diekmann as chief executive officer as Europe’s biggest insurer grapples with upheaval at Pacific Investment Management Co. (Pimco) Diekmann, 59, will stay on until Allianz’s next annual general meeting in …
It was 2:28 p.m. in Munich on Sept. 26, and Bill Gross, in charge of $2 trillion as chief investment officer at Pacific Investment Management Co., had just announced that he was joining Janus Capital Group Inc., a struggling stock …
Allianz SE, Europe’s biggest insurer, posted fourth-quarter earnings that missed analysts’ estimates and said operating profit may decline this year amid low interest rates. The shares fell. Net income grew to €1.26 billion euros ($1.72 billion) in the quarter from …
