Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said. Wemmer …
Newly-launched Marco Capital Holdings Limited plans to pursue property/casualty insurance run-off opportunities in Continental Europe, the UK and Lloyd’s of London. Marco enters the European run-off arena with capital resources provided by majority investor Oaktree and Marco’s own management. The …
Allianz has slightly downgraded its profit outlook for the full year after increased claims from natural disasters in North America, the German insurance giant’s finance chief said. Hurricanes Harvey, Irma and Maria, two earthquakes in Mexico, and fires in California …
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 …
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 …
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 …
Allianz SE, Europe’s biggest insurer, said third-quarter profit rose 36 percent, helped by higher earnings at the life and health insurance unit. The shares rose. Net income increased to 1.86 billion euros ($2.03 billion) from 1.36 billion euros [$1.48 billion] …
Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income declined to 1.1 billion euros ($1.2 billion) from …
Pacific Investment Management Co. cut its workforce by 68 people, or about 3 percent, and is offering buyouts as assets under management have fallen in recent years, according to a memo obtained by Bloomberg. “Like any responsible business, PIMCO constantly …
Allianz Asset Management reported a 17 percent decline in first-quarter earnings as investors continued to withdraw money from its Pacific Investment Management Co. unit 19 months after the ouster of Chief Investment Officer Bill Gross. Operating profit at Allianz Asset …
