(Bloomberg) -- Michael Diekmann, chief executive officer of Allianz SE said tougher financial regulation will create takeover opportunities for Europe’s biggest insurer.

“If Solvency II and Basel III mean more capital, then it’s hard for mutuals to get that,” Diekmann, 58, said in an interview on Oct. 15 at Bloomberg headquarters in New York, referring to mutuals’ customer-owned structure, which makes it more difficult for them to raise funds. That’s why they may need to find a buyer should they require a larger capital buffer under Solvency II, the new risk-based rules for the industry scheduled to be implemented in 2016, he said.

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