ALIZF Allianz Ag Muenchen Namen (PK)

Allianz's potential losses in its litigation with investors in Structured Alpha funds can't be quantified from publicly known information, DZ Bank says. The German insurer said Sunday that future earnings could be hit after the U.S. Justice Department began an investigation related to the funds, which suffered significant losses as markets crashed at the start of the coronavirus pandemic. The DOJ investigation arrives alongside a SEC probe that started last year. The legal disputes were already mentioned in Allianz's 2020 annual report, which said losses could add up to several billion dollars, DZ says. Allianz may issue a more detailed assessment of potential losses when it posts second-quarter results Friday, DZ says. Shares are down 3.9% at EUR201.85. (edward.frankl@dowjones.com)

(END) Dow Jones Newswires

August 02, 2021 04:20 ET (08:20 GMT)

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