The past week saw service providers striking new partnerships in Europe and Allianz’s Structured Alpha lawsuits settled. Meanwhile, Hang Seng debuted three indices in Hong Kong SAR as China expands retirement savings wealth management products.
Allianz Group is setting aside €3.7 billion (US$4.2 billion) to cover expected settlements with US investors and government officials over the collapse of its Structured Alpha Funds , the company said on 17 February. The provision booked in its financial statements 2021 has reduced the group’s net income by €2.8 billion. ‘The anticipated settlements are an important step towards a resolution of the various proceedings,’ said Allianz. ‘Discussions with remainin