UPDATE 1-Financial system is getting more dangerous, Allianz CEO says

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* All the lights on risk management are shining red – CEO

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* Citing high valuations, Greensilk, Arcagos

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* Criticism of Regulators for Dividend Policy (Updated with Quote)

FRANKFURT, Nov 18 (Businesshala) – The financial world is getting more dangerous, not safer, Allianz chief executive Oliver Batte said on Thursday.

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Bette, who oversees one of the world’s largest insurers and asset managers, pointed to high valuations in the car and technology sectors, “accidents” such as the failures of Greensil and Arcgos, and weak banking regulation.

“All the lights on risk management are shining red,” he said at an investor conference.

“The financial system is not getting secure. It’s getting dangerous again.”

Son sharply criticized regulators for restricting the insurance industry from paying dividends during 2020, as it created uncertainty for investors, resulting in rising cost of capital.

“It was a disaster for our industry, and it should not repeat itself,” he said. (Reporting by Tom Sims and Alexander Hubner; Editing by Emma Thomasson and Kim Coghill)

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