Allianz sets aside extra €1.9bn to cover Structured Alpha funds probe

Mark Battersby
clock • 1 min read

Allianz SE has set aside another €1. 9bn to cover the cost of regulatory probes and lawsuits in the US.  This decision to set aside the extra sum was in light of "progressing discussions" with US authorities, after the US Department of Justice launched a probe into the funds last year, it said.  The Munich-headquartered global insurer said it will have to spend a total of €5. 6bn to meet potential settlements in US cases brought against its asset management unit.  Giulio Terzariol, chief financial officer of Allianz SE, said on 12 May: "Our Asset Management business had a very stro...

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