Allianz Sets Aside Another US$ 2 Billion Over Fund Debacle
KONTAN.CO.ID - FRANKFURT. Germany's Allianz said on Wednesday it would set aside another 1,9 billion euros (US$ 2 billion) as it braces for the outcome of US regulatory investigations into a multibillion-dollar trading debacle at its funds arm.
Allianz said the provision hit its first-quarter net profit, which was 600 million euros, less than the 1,9 billion euros analysts had expected.
