The cycles are gone, according to the Allianz group chief executive, and it’s time to find new ways of working
Allianz group chief executive Chris Fischer today stated that low rates are the new normal and highlighted that his firm would focus on core competencies.
Speaking at the 13th annaul Singapore International Reinsurance Conference, Fischer made is clear that he believed ’low interest rates, capital market volatility and commodity prices’ were here to stay.
Fischer said: ”This is the normal. Let’s not say how much longer is it going to be - it’s the normal. For us, we need to focus on our core competencies, and that is providing insurance solutions.”
At the Allianz press briefing, on this the first day of SIRC 2015, Fischer made his feelings about the current climate within (re)insurance clear, adding: ”I don’t believe in cycles anymore; I just believe in offering solutions.”