MUNICH, Jan 15 (Reuters) - Allianz may raise its private equity investments to around 30 billion euros ($43.3 billion) in the coming years, or double the current level, board member Paul Achleitner said on Friday.
The surge is part of a broader build up in alternative investments at Europe's biggest insurer, with more money also flowing into real estate, renewable energy and infrastructure, Achleitner told a press briefing.
'There are more interesting possibilities now than a couple of years ago,' Achleitner said, stressing that the amount to be invested was not set in stone but depended on the profitability of investment opportunities.
'We have a long investment horizon,' he added.
Allianz may also pump a further 15 billion euros into real estate in the coming years on top of its current investment of around 8 billion euros, Achleitner said.
Of the insurer's 400 billion euros in invested assets, which it uses to meet its long-term obligations to policy holders, nearly 10 percent is now in equities.
'We're comfortable with that,' Achleitner said, adding that Allianz aims to achieve a return on investment of 4.5-5 percent. ($1=.6931 Euro) Keywords: ALLIANZ/INVESTMENT (Reporting by Jonathan Gould; Reuters Messaging: jonathan.gould.reuters.com@reuters.net; +49 69 7565 1242) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The surge is part of a broader build up in alternative investments at Europe's biggest insurer, with more money also flowing into real estate, renewable energy and infrastructure, Achleitner told a press briefing.
'There are more interesting possibilities now than a couple of years ago,' Achleitner said, stressing that the amount to be invested was not set in stone but depended on the profitability of investment opportunities.
'We have a long investment horizon,' he added.
Allianz may also pump a further 15 billion euros into real estate in the coming years on top of its current investment of around 8 billion euros, Achleitner said.
Of the insurer's 400 billion euros in invested assets, which it uses to meet its long-term obligations to policy holders, nearly 10 percent is now in equities.
'We're comfortable with that,' Achleitner said, adding that Allianz aims to achieve a return on investment of 4.5-5 percent. ($1=.6931 Euro) Keywords: ALLIANZ/INVESTMENT (Reporting by Jonathan Gould; Reuters Messaging: jonathan.gould.reuters.com@reuters.net; +49 69 7565 1242) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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