Allianz rules out sovereign debt exit from Piigs countries


Despite the spectre of sovereign defaults hanging over several members of the Eurozone, Allianz, the world’s largest insurer by premium volume, is not going to alter its exposure to government debt in the threatened areas, according to the company’s chief risk officer.

Munich-based Tom Wilson said that as a liability-focused investor, which needed long-duration on its asset portfolio, Allianz simply had no alternative to its subsidiaries investing in domestic government bonds, including in the s