Bloomberg News

German Insurers Reduced Greek Debt Exposure, Boersen Says

May 29, 2012

German insurance companies have reduced their investments in Greek government debt to 10 percent of the year-ago level, Boersen Zeitung reported citing financial supervisory authorities.

Insurances companies’ exposure to other peripheral states’ bonds including Italy’s has fallen slightly, the newspaper said. Allianz, Italy’s second largest life insurer, holds 31.2 billion euros, or 6.6 percent of its capital in local government bonds, BZ added.

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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