Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Allianz weighs options for AllianzGI unit, sources say

Published On :

 

By Amy-Jo Crowley, Alexander Hübner, Andres Gonzalez and Anousha Sakoui

LONDON (Reuters) – Allianz is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that would give the business greater scale.

AllianzGI, which oversees 555 billion euros ($560 billion) of assets according to its website, could be valued at more than 4 billion euros, including debt, one of people said.

Allianz could consider giving up control in such a move, that person and a second one said. The people were speaking on condition of anonymity because the matter was private.

It is one of Europe’s biggest insurers and also owns asset manager Pimco. The Pimco business is not part of the discussions, according to the sources.

A spokesperson for Allianz declined to comment.

The considerations come on the heels of BNP Paribas’ decision to buy AXA Investment Managers for more than 5 billion euros, a transaction that bankers expected would spur more dealmaking. Credit Agricole-owned Amundi was also vying for the unit, Reuters reported.

Amundi and Germany’s DWS would be logical candidates for any deal, one of the people and a fifth one said. Amundi and DWS declined to comment. AllianzGI sold its U.S. division to investment manager Voya after the unit pleaded guilty to fraud and paid a $6 billion settlement with U.S. authorities in 2022.

In August, the overall Allianz group posted better than expected second quarter net profit and said it was on track to meet its full year target.

Over the past decade, Allianz has outperformed some its main competitors and Germany’s main stock index. In the first half of 2024, Allianz reported net inflows of 48 billion euros of client funds into its asset management business, of which only a small fraction went into AllianzGI, at around 3 billion euros.

($1 = 0.9263 euros)

(This story has been refiled to clarify the source in paragraph 7)

 

(Reporting by Amy-Jo Crowley, Alexander Huebner, Andres Gonzales and Anousha Sakoui. Additional reporting Emma-Victoria Farr, David French, Tom Sims and Mathieu Rosemain. Editing by Elisa Martinuzzi, Elaine Hardcastle)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts