MUNICH (Reuters) -The German insurer Allianz is open to forming cooperations for its asset management business, board member Andreas Wimmer told shareholders on Thursday.
Last year, Reuters reported that the insurer was weighing options for its Allianz Global Investors (AGI) unit, including a possible merger or partial sale of the division.
Wimmer, speaking at the company’s annual shareholder meeting, said that the company’s two asset managers – AGI and PIMCO – are complementary and work closely with its insurance business.
“Nevertheless, we naturally want to continue to grow. We also want to be open to cooperations at all times, but we always look at them very carefully and on a case-by-case basis,” Wimmer said.
(Reporting by Andreas Huebner and Tom Sims; editing by Matthias Williams)
