Allianz CEO Says Virus Hit Insurers Like ‘Meteorite’

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Allianz SE Chief Executive Officer Oliver Baete warned the coronavirus has upended insurers’ business models and will cause “massive” losses across the industry. The virus has forced closures across the entire economy and not just in a limited number of cases, Baete said. Any recovery from those shutdowns will likely take longer than people currently… Continue reading Allianz CEO Says Virus Hit Insurers Like ‘Meteorite’