Germany’s Allianz halts new business in Russia -Breaking
[ad_1]

FRANKFURT (Reuters), – Allianz, a German insurance and asset manager said Monday that it was stopping new investments in Russia.
Allianz’s announcement follows several similar ones made by the financial sector in the aftermath of Russia’s invasion.
The company stated that “our operating entities no longer underwrite new Russian insurance businesses and are decisively decreasing exposure in an ordered manner.”
Until now, Allianz operated many business lines in Russia.
In 2021, 0.2% of company operating profits was derived from Russia and Ukraine. However, its overall investment exposure amounts to 0.3% of the 808.5 billion euro portfolio ($885.71 trillion).
($1 = 0.9128 euros)
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is an extremely risky investment. Please make sure you are fully aware of all the costs and risks involved.
[ad_2]