Bloomberg News

Allianz Likely to Cut Bank Holdings, Boersen-Zeitung Says

May 15, 2012

Allianz SE (ALV) is likely to reduce its shareholdings in banks because of new regulations for insurance companies that penalize firms holding stakes in lenders, Boersen-Zeitung reported in a preview of a story that will run tomorrow, citing Allianz Chief Financial Officer Oliver Baete.

Allianz has holdings in European lenders including Commerzbank AG (CBK), UniCredit SpA, Banco Popular Espanol SA (POP), Banco BPI SA (BPI) and Zagrebacka Banka d.d., the German newspaper reported.

To contact the reporter on this story: Niklas Magnusson in Hamburg at

To contact the editor responsible for this story: Angela Cullen at

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