Allianz's third-party assets under management increased to €1,408bn ($1,588bn) at the end of the first quarter, compared with €1,313bn at the end of 2014.
The insurer said this followed "both positive market effects and favourable currency effects."
The figures were released in a preliminary statement on performance in the first quarter (full details are due on 12 May), which revealed operating profit 4.8% up at €2.86bn against €2.72bn a year earlier and net income attributable to shareholders up 11% to €1.82bn (€1.64bn).
In the month following the period of these results, the Allianz-owned fund manager Pimco reported withdrawals from its total return fund of $5.6bn, leaving it with $110.4bn of assets at the end of April, compared with $292.9bn two years earlier (IAR, 5 May 2015, Money continues to flow out of Pimco fund).