The Chief Financial Officer of Allianz Group, Helmut Perlet, doesn't exclude the collapse of some insurers during the financial crisis, but Monday he categorized such an event "very unlikely."

When asked if the state should intervene in case an insurer really faces a collapse, he said: "That should be answered with a yes, when the collapse of an insurer would trigger a chain reaction."

He emphasized, though, that fundamentally he didn't consider this as a very probable scenario.

-By Andreas Kissler, Dow Jones Newswires +49 (0) 30 2888 4118 andreas.kissler@dowjones.com