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Due to a dispute over US hedge funds, Allianz is now also dealing with the German financial regulator Bafin.
The Reuters news agency reports and cites several insiders in the authority.
According to this, several employees from different departments at Bafin are busy with the topic.
Officials checked whether Allianz executives outside of the fund were aware of or were involved in the events that led to the billions in losses.
The funds launched by the asset management subsidiary Allianz Global Investors (Allianz GI) under the name "Structured Alpha" suffered losses when the markets collapsed during the first corona shock.
Pension funds and other investors are therefore suing Allianz and claiming losses of up to six billion dollars.
In the US, the SEC and the Justice Department are already investigating Europe's largest insurance group.
The investigations could put a strain on the financial results, the Dax group announced to its shareholders in August.
Allianz stated that it was in regular contact with Bafin on all sorts of topics, including the Structured Alpha Funds.
This is a normal process and there is nothing more to say.
The Bafin declined to comment.
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