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2/20, 10:46 AM (Source: TeleTrader)
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Allianz+0.74%

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Chart for: ALLIANZ SE NA O.N.

Allianz increases investment fund to €1 billion

Allianz SE announced it was increasing the size of its digital investment unit Allianz X to €1 billion as a result of its "investment track record, successful collaborations with growth companies as well as the contribution towards the Group's overall digital transformation strategy."

The fund, which previously put money into BIMA, C2FO, and Go-Jek, will use the additional capital to make additional direct investments in other digital companies which are strategically relevant for Allianz.

"We are very pleased with the progress Allianz X has made thus far and are committed to further invest and develop the next generation of digital growth companies related to Allianz’s core business. Our digitalization approach is multifaceted; Allianz X is a valuable addition – not only in meeting the changing expectations of our customers," Ivan de la Sota, Allianz's chief business transformation officer.

German financial services giant recently posted its annual earnings.

Breaking the News / MD