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Home > Finance > Allianz's fund arm AGI can resume business in US, CEO says

Allianz's fund arm AGI can resume business in US, CEO says

Published by Global Banking & Finance Review®

Posted on July 16, 2025

1 min read

Last updated: January 22, 2026

Allianz's fund arm AGI can resume business in US, CEO says - Finance news and analysis from Global Banking & Finance Review

Tags:insurance asset management financial services

Quick Summary

Allianz's AGI can resume US operations after a fraud scandal led to a $6 billion settlement and a 10-year ban. The SEC has reinstated their license.

Allianz's AGI Fund Management to Restart Operations in the U.S.

MUNICH (Reuters) -Allianz's fund management arm AGI can resume business in the United States after being forced to exit the market following a fraud scandal, the German company's CEO said.

In 2022, the German financial giant agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the COVID-19 pandemic.

Allianz's settlements with the U.S. Department of Justice and U.S. Securities and Exchange Commission were among the largest in corporate history and resulted in a ban on AGI operating in the United States.

"We got our license back from the SEC to operate asset management in the U.S. again," Allianz CEO Oliver Baete told journalists on Tuesday.

The original ban was for 10 years.

(Reporting by Alexander Huebner; writing by Tom Sims; editing by Rachel More)

Key Takeaways

•Allianz's AGI can operate in the US again.
•The company faced a $6 billion fraud settlement.
•AGI was banned for 10 years from US operations.
•SEC has reinstated AGI's business license.
•CEO Oliver Baete announced the license renewal.

Frequently Asked Questions about Allianz's fund arm AGI can resume business in US, CEO says

1What recent development has occurred for Allianz's AGI?

Allianz's fund management arm AGI can resume business in the United States after being forced to exit the market following a fraud scandal.

2What was the consequence of the fraud scandal for Allianz?

In 2022, Allianz agreed to pay more than $6 billion, and its U.S. asset management unit pleaded guilty to criminal securities fraud.

3How long was AGI banned from operating in the U.S.?

The original ban on AGI operating in the United States was for 10 years.

4Who confirmed the resumption of AGI's business in the U.S.?

Allianz CEO Oliver Baete confirmed that they received their license back from the SEC to operate asset management in the U.S. again.

5What were the settlements with U.S. authorities considered?

Allianz's settlements with the U.S. Department of Justice and the U.S. Securities and Exchange Commission were among the largest in corporate history.

Allianz's AGI Fund Management to Restart Operations in the U.S.

MUNICH (Reuters) -Allianz's fund management arm AGI can resume business in the United States after being forced to exit the market following a fraud scandal, the German company's CEO said.

"We got our license back from the SEC to operate asset management in the U.S. again," Allianz CEO Oliver Baete told journalists on Tuesday.

The original ban was for 10 years.

(Reporting by Alexander Huebner; writing by Tom Sims; editing by Rachel More)

Frequently Asked Questions

1What recent development has occurred for Allianz's AGI?

Allianz's fund management arm AGI can resume business in the United States after being forced to exit the market following a fraud scandal.

2What was the consequence of the fraud scandal for Allianz?

In 2022, Allianz agreed to pay more than $6 billion, and its U.S. asset management unit pleaded guilty to criminal securities fraud.

3How long was AGI banned from operating in the U.S.?

The original ban on AGI operating in the United States was for 10 years.

4Who confirmed the resumption of AGI's business in the U.S.?

Allianz CEO Oliver Baete confirmed that they received their license back from the SEC to operate asset management in the U.S. again.

5What were the settlements with U.S. authorities considered?

Allianz's settlements with the U.S. Department of Justice and the U.S. Securities and Exchange Commission were among the largest in corporate history.