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Allianz Hit From Hedge Fund Implosion Reaches $5.9 Billion

  • Insurer sets aside further 1.9 billion euros to resolve probes
  • Investors claim they lost billions from the fund collapse
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Allianz Hit From Hedge Fund Blowup Reaches $5.9 Billion
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Allianz SE is setting aside an additional 1.9 billion euros ($2 billion) to resolve lawsuits and regulatory probes tied to the collapse of a group of its hedge funds two years ago.

The additional amount is a “fair estimate” of the remaining exposure, including potential payments to resolve government proceedings, Allianz said in a statement on Wednesday. The German company is seeking a timely resolution with authorities, it added.