Allianz: EU governments requirement protect insurance industry

Allianz has warned that domination help would be needed if a European insurer collapsed.

Helmut Perlet, Chief Pecuniary Officer of the Germany-based insurance group, said that although the down of a European insurer cannot be ruled out, such an outcome is ‘very unlikely’.

Asked if the state should butt in if an insurer collapsed, Perlet said, “That should be answered with a yes.”

He went on to modify his answer by clarifying that a state rescue is only inescapable if the collapse of an insurer would otherwise ‘trigger a confinement reaction’.