February 21, 2013 / 9:12 AM / in 5 years

Low interest rates main challenge in 2013 -Allianz CEO

FRANKFURT, Feb 21 (Reuters) - Allianz sees the low interest rate environment as the top challenge facing the company this year, its chief executive said on Thursday.

“The main business issue facing us in 2013 will be how to steer Allianz in a low interest rate scenario,” Michael Diekmann said in presenting annual results for Europe’s biggest insurer.

Central banks slashed interest rates in the wake of the financial crisis, making it hard for insurers to earn income from the government bonds in which they mainly invest and from which they must meet future obligations to policy holders. (Reporting by Jonathan Gould)

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