Allianz invests 140mn eur in Irish property fund

FRANKFURT: German insurer Allianz said on Tuesday it would invest 140 million euros ($180 million) in Irish real-estate fund IPUT.

"As the economic recovery in Ireland takes hold, supporting improving demand particularly in the domestic economy, we see the potential for strong long term income returns at attractive levels for our stakeholders," Allianz Chief Investment Officer Charles Pridgeon said.