Pimco parent Allianz back in the black
With the sale of Dresdner Bank now well behind it, Allianz appears to be back on track. Proof? The Pimco and Oppenheimer parent recorded close to a $6B profit in 2009.
German insurer Allianz SE made €1.1 billion ($1.5 billion) in the fourth quarter, bouncing back from a loss of more than €3 billion a year ago thanks in part to improvements in capital markets.
Revenue was 11% higher to €26 billion from €23 billion in the fourth quarter of
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