Allianz deal to sell Russia operations faces delay due to regulator

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Allianz said that the financial hit of around 400 million euros ($401.36 million) to profit from the deal would now occur in the fourth quarter of this year or in the first quarter of 2023.

Allianz had previously said it expected the hit in the third quarter.

“It’s simply a delay driven by the regulator” in Russia, an Allianz spokesperson said. “We are awaiting regulatory approval.”

($1 = 0.9966 euros)