MUNICH, July 16 (Reuters) - Allianz's fund

management arm AGI can resume business in the United States

after being forced to exit the market following a fraud scandal,

the German company's CEO said.

In 2022, the German financial giant agreed to pay more than

$6 billion and its U.S. asset management unit pleaded guilty to

criminal securities fraud over the collapse of a group of

investment funds early in the COVID-19 pandemic.

Allianz's settlements with the U.S. Department of Justice

and U.S. Securities and Exchange Commission were among the

largest in corporate history and resulted in a ban on AGI

operating in the United States.

"We got our license back from the SEC to operate asset

management in the U.S. again," Allianz CEO Oliver Baete told

journalists on Tuesday.

The original ban was for 10 years.