Nov. 8 - The CFO of Allianz, Dieter Wemmer, talks to Reuters following a slight rise in Q3 profit.
I can't raise this as well if Todd it's pulling a strong that courts and that's expected. Performance at -- insurance mom. -- they -- Bennett joins me now on the line and Munich thank you so much up for joining us that. Yes good morning. On steel cut interest rates because of schools no interest rates. On the set says the biggest problem now what the impact of the ECB's. Surprise cut yesterday. I I I don't think it who have heard a lot of M thick on a lot but balance should then come book platoon but it is. Certainly. Further up. The -- being. They being. That means it mainly hit. All of the people who -- money also fulfilled a I think that. You -- -- public -- on -- you call that. Come on that next innovation and I hope that the public think the really helped to boost an economy we -- the people who -- Now you also talked about the impact of market volatility. What is the impact in this continues and also what is on -- is doing. And -- offset this. Well it will certainly continue to do with stock market and we have stopped the Soviet looking away investment portfolio. Both of that the 45 months ago and and and announces also and -- beside a lot of long term investment in infrastructure and you'll. -- also investing in the -- we'll -- They tell you but investments in infrastructure. And I understand that no ways previous government had talked about cutting tariffs on the accident pipeline net lap which I believe -- Is that one of your big investments I'm. Expect to Denny's is gonna hat revenue you can son I guess. That is. All obviously you would do which you losing the pulpit to in the field in Batman. But it's two days a pop open. I would -- any messes that you push him -- case. There is on a cops and Harris what's she going to do. Well we be reason to assume that. That there's no between. Government and also the sense of who they. Who -- -- we have open immediately because I think this. Long. Do you certainly lived on -- neutral but all the parties and I think that it's important. For all of you -- countries that this -- It it still clear that they invest that can do this don't -- -- that. Okay let's talk about Gemini now and it's pollen is that in course recently from. -- for the US treasury that's Jenny or to fix it and balances the justices columnist. You consent by these growing in balances have told. No I think that. Poop on both playing the third -- in to leave that to explore. It -- bell and I think that it's. Via a plan. All the kind of people many -- -- And one quick question on the the -- pay attention over a ton of fun done. It's been -- toughest places the world's biggest mutual fund up to six straight months of withdrawals. Can send you about this trend and is anything you can do to actually ten things around that. Well -- Pimco is diversifying its quote I propose doing now ready for many years and be. And mall looking at that -- we have and then you look -- tribulations. And the total defense fund yet it is too. Seen as the flagship fund of Pimco but it is less than 15% to can go. And Pimco has build up another 85%. Of -- profitable and better belt performing funds from me. Andy says just looking -- to 2014. How are you -- he is feeling about next year. Well I think in. General Leon as -- prepare. Two to continue this security opens -- next year I think we have been not quite that. We have dramatic home balance sheet and the no working on. Painting a look at this model also. Who took you in the next couple of -- Great thanks so much for that that was announces the -- that -- I'm and -- all the candidates is what is.