Allianz's Potential Losses in Structured Alpha Funds Litigation Can't Be Quantified -- Market Talk
02 Agosto 2021 - 5:35AM
Dow Jones News
Allianz's potential losses in its litigation with investors in
Structured Alpha funds can't be quantified from publicly known
information, DZ Bank says. The German insurer said Sunday that
future earnings could be hit after the U.S. Justice Department
began an investigation related to the funds, which suffered
significant losses as markets crashed at the start of the
coronavirus pandemic. The DOJ investigation arrives alongside a SEC
probe that started last year. The legal disputes were already
mentioned in Allianz's 2020 annual report, which said losses could
add up to several billion dollars, DZ says. Allianz may issue a
more detailed assessment of potential losses when it posts
second-quarter results Friday, DZ says. Shares are down 3.9% at
EUR201.85. (edward.frankl@dowjones.com)
(END) Dow Jones Newswires
August 02, 2021 04:20 ET (08:20 GMT)
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