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Allianz in talks with Chinese regulators for asset management licence

Written by Adam Cadle
05/06/2020

German insurer Allianz is in talks with Chinese regulators to obtain a licence to be able to offer broad asset management services in the country.

Allianz CEO in Asia, Solmaz Altin, told Reuters that dicussions are at an early stage, and said he hoped to launch the business in the first half of 2021.

Altin said Allianz aimed to boost annual revenue growth in Asia by up to 20% through 2025.

The insurer also plans to enter the Vietnam property and casualty market next year, perhaps with a minority equity partner, and is in talks with the regulator, Altin said.

Globally, Allianz oversees assets of more than €2trn for itself and third parties under the PIMCO and Allianz Global Investors brands.

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