FRANKFURT, Sept 27 (Reuters) - German insurer Allianz is exploring options for regional private bank Oldenburgische Landesbank AG (OLB), Allianz and OLB said on Tuesday. OLB said in a statement Allianz was looking at various strategic alternatives for the partial or total sale of the lender and was speaking to interested parties. Allianz owns a 90 percent stake in OLB, which has total assets of 13 billion euros ($14.56 billion). “It’s at an early phase of consideration,” an Allianz spokesman said. New capital rules for the EU insurance sector that came into force at the start of this year, known as Solvency II, are prompting insurers like Allianz to carefully review whether the profit they gain from stake holdings is worth the regulatory capital required under the rules. $1 = 0.8927 euros Reporting by Jonathan Gould; Editing by Tina Bellon
Allianz may seek a partial or total sale of its 90 percent stake in OLB ( Allianz ). While OLB has total assets of €13bn, the raise of regulatory capital requirements for OLB insurers has reduced the profit OLB can gain from stake holdings, causing it to review its options.