Allianz Seeks to Bulk Up in Asia in Wait for China Permit
- Asia-Pacific CEO says region will be insurer’s ‘growth engine’
- Insurer sees positive signals from regulator on Baidu venture
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Allianz SE, the German insurer that stemmed outflows at U.S. asset manager Pimco, is now trying to bulk up on the other side of the world.
“Asia is still a relatively small part of the overall global portfolio but it holds a very big promise,” George Sartorel, chief executive officer of the Asia-Pacific business, said in an interview. “We have kept quiet in Asia for a long time, but our goal is to accelerate growth in the region. We see it really as the growth engine for Allianz.”