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Allianz boss says everything is wrong, the world of finance has become a dangerous place

Allianz boss says everything is wrong, the world of finance has become a dangerous place

In this context, the head of the insurance giant referred to the rise in stock prices in the auto and technology sectors, the collapse of the American investment fund Archegos and the British financial company Greensil, as well as the weak regulation of the banking system.

“All the lights on risk management are red,” Pat said at an investment conference. “The financial system is not safer now. The situation has become more dangerous again,” he added.

alliance

  • Allianz in Munich is the largest insurance company in Europe and one of the largest asset managers in the world.
  • Through its investment firms PIMCO and Allianz Global Investors, it manages assets worth over €2.5 trillion (about CZK 63 trillion).

Pat also criticized regulators for preventing the insurance sector from paying dividends last year. According to him, this created uncertainty among investors, which led to an increase in the cost of capital. “We simply learned about it at the time. This should not happen again,” the director said, according to Reuters.

Allianz in Munich is the largest insurance company in Europe and one of the largest asset managers in the world. Through its investment firms PIMCO and Allianz Global Investors, it manages assets worth over €2.5 trillion (about CZK 63 trillion).

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