"Just because it's going through a soft patch is not a reason to sell." Union's Mr Speich also raised concerns over Allianz's ability to cope with the low interest environment in Europe, which has particularly affected German insurers that offer life insurance products with hefty guarantees. Allianz was still too reliant on its classic products and was falling behind European rivals Axa, Generali and Zurich in that regard, Mr Speich said. –By Alice Ross, Financial Times