Allianz Deal May Hinge on Holocaust Debts

State Insurance Commissioner Chuck Quackenbush is seeking to use Allianz’s possible purchase of Newport Beach-based Pimco Advisors Holdings to force the German insurer to increase cooperation with an international investigation into its debts to Holocaust victims. Quackenbush said in a letter this week to Gov. Gray Davis that Allianz has failed to provide enough information about insurance policies to the International Commission of Holocaust Era Insurance Claims. Quackenbush is a member of the commission, chaired by former Secretary of State Lawrence Eagleburger. At the panel’s last meeting, Allianz said it would sample its policies to create an estimate of what it owes, rather than doing a comprehensive search. Allianz said last week it is in talks to buy Pimco for about $4.4 billion, creating one of the world’s 10-largest fund management companies. Allianz officials could not be immediately reached for comment.