German insurance giant Allianz said today that it owned €3.3 billion worth of Greek debt at the end of March, less than 1% of its total bond holdings.
The insurer also said it owned €14.3 billion worth of bonds issued by Greece, Ireland, Portugal and Spain, the euro zone countries most at risk of default.
'We do not expect any impact for the moment' from the Greek crisis, an Allianz statement said.
In late February, the company had reported that its exposure to Greek debt was a net €900m. An Allianz spokesman said it corresponded to a gross figure of €3.5 billion.
