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Allianz Profit Hits Record as Pimco Sees €32 Billion in Inflows

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Allianz Profit Hits Record as Pimco Sees €32 Billion in Inflows Allianz SE, the owner of bond manager Pacific Investment Management Co., generated record second-quarter profit on better results in its insurance and asset management businesses. Group operating profit rose 11% to €4.87 billion ($5.61 billion), according to a statement on Friday. That was above analysts’ estimates of €4.58 billion.

Allianz Profit Hits Record as Pimco Sees €32 Billion in Inflows Allianz SE, the owner of bond manager Pacific Investment Management Co., generated record second-quarter profit on better results in its insurance and asset management businesses. Group operating profit rose 11% to €4.87 billion ($5.61 billion), according to a statement on Friday. That was above analysts’ estimates of €4.58 billion. Pimco attracted €31.7 billion from outside clients, while its sister unit Allianz Global Investors recorded €7.6 billion in third-party inflows.
Allianz (ORG) Pimco Sees (ORG) Allianz SE (ORG) Pacific Investment Management Co. (ORG) Pimco (ORG) Allianz Global Investors (ORG)
Originally published by Bloomberg Markets Read original →