In this context, the head of the insurance giant pointed to high stock prices in the automotive and technology sectors, the collapse of the US investment fund Archegos and the British financial company Greensil, as well as weaker regulation of the banking system.
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“All the lights in risk management are red,” Bäte told an investment conference. “The financial system is not becoming safer now. It is becoming more dangerous again, “he added.
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Alliance
- The Munich company Allianz is the largest insurance company in Europe and one of the largest asset managers in the world.
- Through its investment companies PIMCO and Allianz Global Investors, it manages assets worth over 2.5 trillion euros (approximately 63 trillion CZK).
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Bäte also criticized the regulators for banning 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. “It simply came to our notice then. That shouldn’t happen again, “the manager said, according to Reuters.
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The Munich company Allianz is the largest insurance company in Europe and one of the largest asset managers in the world. Through its investment companies PIMCO and Allianz Global Investors, it manages assets worth over 2.5 trillion euros (approximately 63 trillion CZK).
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