Allianz SE (AZ) expects about EUR112 million in first-quarter write-downs on its investment in Hartford Financial Services Group Inc. (HIG) of the U.S., Chief Financial Officer Helmut Perlet said Wednesday.

In October, Hartford closed on a $2.5 billion investment by Allianz, which gives Allianz a 23.7% stake in Hartford.

Hartford reported a $2.75 billion net loss for 2008 and is among a group of insurers seeking U.S. government aid.

CEO Diekmann said earlier Wednesday that the insurer's investment in Hartford is a "financial investment."

Company Web site: www.allianz.com

-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com