Allianz founded Feb 5 1890 in Berlin by Carl von Thieme (Munich Re co-founder) + Wilhelm Finck as Allianz Versicherungs-AG; transport + accident insurance. Becomes the largest insurer in Germany by 1914. Founded 10 years after Munich Re; the two companies share founding families and remain interlinked for 130+ years.

Allianz acquires PIMCO May 2000 for $3.3B — Pacific Investment Management Co (Newport Beach CA) becomes Allianz's massive US asset management arm. PIMCO AUM grows from $200B (2000) to $1.8T (2024) under co-founder Bill Gross + later Mohamed El-Erian. Becomes core profit engine for Allianz.

Allianz acquires Dresdner Bank Apr 2001 for €23.5B — bancassurance strategy bet on integrating banking + insurance distribution. Strategy fails: Dresdner sold to Commerzbank Aug 2008 amid financial crisis. Allianz loses €15B+ on Dresdner; rare strategic misstep for Carl von Thieme's 130-year-old insurer.

Allianz sells Dresdner Bank Aug 2008 to Commerzbank for €9.8B — closes Jan 2009. Total loss on Dresdner ownership: €15B+ vs 2001 €23.5B acquisition price. Allianz refocuses on pure insurance + asset management (PIMCO acquired 2000 $3.3B becomes massive profit center).

Bill Gross dramatic exit from PIMCO Sep 2014 — co-founder + 'Bond King' Gross fires before Allianz can fire him; joins Janus Henderson. PIMCO suffers $500B+ outflows 2014-2016. Mohamed El-Erian had already left Mar 2014. Allianz-PIMCO turbulence demonstrates active-management fragility.

Oliver Bate becomes Allianz CEO May 2015 — succeeds Michael Diekmann (CEO 2003-2015). Bate (then 50) was Allianz CFO 2007-2015. Bate executes simplification + tech investment + Allianz Direct (digital insurer). Stock €130 (2015) → €270+ (2025) under Bate.

Allianz Structured Alpha hedge fund scandal disclosed Mar 2022 — Allianz Global Investors' $11B Alpha fund collapses during Mar 2020 COVID volatility; investors lose $7B. Allianz pays $6.1B DOJ + SEC settlements 2022 + admits criminal guilt. Largest DOJ-led penalty against an insurer; AGI parent forfeits US asset management licenses.

Allianz Structured Alpha settlement May 2022 — $6.1B paid to settle DOJ + SEC actions over Allianz Global Investors' collapse. Oliver Bate CEO survives; head of AGI dismissed. Allianz prohibited from offering certain US asset management services for 10 years. Reputational damage but core insurance unaffected.

Allianz Q3 2023 record results — €4B+ operating profit driven by hard P&C pricing + asset management (PIMCO + AGI). Stock at €240 (recovered from 2020 €150 lows). CEO Oliver Bate (since 2015) defines Allianz as 'world's largest active asset manager' (PIMCO+AGI $2.1T AUM) + #1 European insurer.