Allianz seeks to bulk up in Asia in wait for market permit

German insurance group, Allianz SE, helped turn around asset manager Pimco in the United States.

Now, it is trying to bulk up on the other side of the world.

"Asia is still a relatively small part of the overall global portfolio but it holds a very big promise," George Sartorel, Asia-Pacific chief executive officer of Allianz, said in an interview.