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Allianz planning to offload large U.S. life portfolio -Bloomberg By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The Allianz SE logo is visible on the Allianz SE company building at Puteaux in the financial district of La Defense, near Paris. This was taken May 14, 2018, outside Paris. REUTERS/Charles Platiau/File Photo

(Reuters) – Allianz (DE:) is in the process of offloading a large chunk of its U.S. life insurance policies, Bloomberg reported on Friday, citing people with knowledge of the matter.

It reported that the insurer is one of the largest money managers in the world and was working with advisors to find a possible deal for a portfolio of assets and liabilities worth many billions of dollars.

An Allianz representative was not available immediately to confirm the report.

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