Allianz Books Extra $2 Billion in Legal Expenses

Allianz SE set aside an additional $2 billion for legal costs related to ongoing payments with investors in funds that consistently lost money during the market turmoil in March 2020.

The German financial giant said on Wednesday it had placed 1.9 billion euros, or about $2 billion, in regulatory provisions in the first quarter as a result of further arrangements with investors and continued discussions with the US government. Allianz Books Extra $2 Billion in Legal Expenses

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