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InsuranceLinked Securities Companies House Europe

Impairments hit Allianz bottom line

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EUROPEAN insurer Allianz reported impairments of €931m ($1.27bn) in the third quarter of 2011, mainly due to writedowns of Greek sovereign debt, where a net €122m writedown for Q3 followed a €326m writedown in Q2, and a €715m writedown for other financial sector investments – Commerzbank, Hartford, Unicredit, China Pacific Insurance Group and Banco Popular were mentioned.

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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