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Reuters
Reuters
Business

Germany's Allianz halts new business in Russia

Russia Allianz
FILE PHOTO: The logo of insurer Allianz SE is seen on the company building in Puteaux at the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau

The German insurer and asset manager Allianz said on Monday that it had put a stop to insuring new business in Russia and was no longer investing in the nation for its own portfolio.

The announcement by Allianz follows a raft of similar announcements from the financial industry in the wake of Russia's invasion of Ukraine.

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