Source: www.reuters.com

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FRANKFURT (Reuters) - Allianz Chief Executive Oliver Baete said that the company reached a settlement with major U.S. investors over lawsuits resulting from the collapse of a multi-billion-euro set of investment funds.

He also said that he and other board members would face lower bonuses for the past year as a result of the saga.

Reporting by Tom Sims; Editing by Miranda Murray