March 16, 2019 / 7:10 PM / 3 days ago

Allianz explores combining its asset management unit with DWS: Report

FILE PHOTO - The logo of insurer Allianz SE is seen on the company building in Puteaux at the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau/File Photo

FRANKFURT (Reuters) - The German insurer Allianz is investigating combining its asset management business with DWS, which is mostly owned by Deutsche Bank, Bloomberg reported on Saturday.

Bloomberg, citing unnamed people familiar with the matter, said that Allianz’s deliberations were at an early stage and may not lead to any formal talks or agreement.

Deutsche Bank, Allianz and DWS declined to comment.

Reporting by Tom Sims, Editing by William Maclean

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