Latest Germany Headlines
All the headlines from our Germany Topic Page, ordered by recency.
Allianz Posts $2.52 Billion Q3 Net Loss, $933 Million 1st Nine Months
Nov 15 2002 // Germany’s Allianz announced that it would report a net loss for the third quarter of 2.5 billion Euros ($2.525 billion) and a net loss of 924 million Euros ($933 million) for the first nine months of 2002 due to a...
RMS Update Shows European Windstorm Damages Climb Upward
Nov 5 2002 // Risk Management Solutions, Inc. (RMS) has updated its estimate of damages and insured losses from Windstorm Jeanette, originally released on Oct. 30. RMS now estimates that total damages from the storm, which impacted...
RMS Estimates Windstorm Jeanett May Cause $983 Million in Total Damages
Oct 31 2002 // California-based Risk Management Solutions, Inc. (RMS), announced that the windstorm, designated Jeanett, which has hit the U.K., France, and the rest of northern Europe over the last several days may cause up to 1 billion...
Report German Gov’t. Seeks Two Month Extension for Airline Terrorist Coverage
Oct 29 2002 // Germany’s newly reelected government has reportedly asked the European Commission (EC) for permission to extend emergency terrorist risk coverage to the country’s airlines until the end of the year. The EC...
$275 Million Holocaust Settlement Nears
Oct 17 2002 // After a number of preliminary agreements, and some protracted delays, German representatives and The International Commission of Holocaust-Era Insurance Claims (ICHEIC) were reportedly near an agreement that would provide...
S&P, Moody’s Lower Allianz Ratings
Oct 10 2002 // Both Standard & Poor’s and Moody’s Investors Service announced Wednesday that they have downgraded their ratings on Germany’s Allianz AG, Europe’s largest insurer. S&P also announced that...
Eastern European Floods Cause Widespread Damage
Sep 16 2002 // The floods that devastated Eastern Europe throughout August may have been caused by global warming, or by one of the 100-200 year storms probability theory predicts, or maybe just bad luck. They were in any case, the most...
German Insurers Set Up Terror Risk Vehicle
Sep 4 2002 // 16 leading insurance companies, including Munich Re, Swiss Re and Allianz, announced the foundation of “Extremus,” a jointly owned insurance vehicle which will provide excess coverage for losses caused by...
Speculation Grows on AIG Takeover of Zurich
Sep 2 2002 // Rumors of a possible takeover of Zurich Finan-cial by U.S. insurance juggernaut American International Group (AIG) gained steam as the Swiss concern’s stock rose sharply last week. According to Reuters, speculative...
Speculation Grows on AIG Takeover of Zurich
Sep 2 2002 // Rumors of a possible takeover of Zurich Financial by U.S. insurance juggernaut American International Group (AIG) gained steam as the Swiss concern’s stock rose sharply last week. According to Reuters, speculative...
Insurers Have Limited Exposure to East Europe Flood Claims
Aug 20 2002 // A number of European insurers and reinsurers have indicated that despite the widespread damages caused by the ongoing floods in Germany and Eastern Europe, their exposure to claims is limited. With analysts now increasing...
European Flood Update – Losses in the Billions
Aug 19 2002 // Even as German Chancellor Schroeder met with other European leaders in Berlin on Sunday to find ways of dealing with the unprecedented floods sweeping across Eastern Europe, workers in Budapest struggled to contain the...
European Insurers Expect Millions of Euros in Flood Claims
Aug 16 2002 // Many European insurers expect claims totaling millions of euros as flooding that has heavily damaged areas of the Czech Republic and Austria now threaten eastern Germany. Reuters reports that several European...
A.M. Best Affirms Rating of Allianz
Aug 8 2002 // A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Allianz AG Consolidated, Germany. At the same time, A.M. Best has downgraded Allianz’s debt ratings to “aa+” from...
U.S. Court Backs Calif. Law on Holocaust Issue
Aug 5 2002 // Commissioner Low was very gratified with the decision. From his perspective, this is a time-sensitive issue because some of these survivors are dying every day,” said Nanci Kramer, a spokesperson with the California...
Price Fixing Denied by German Insurers
Aug 1 2002 // A group of German insurance companies accused of having fixed prices for industrial insurance policies are denying those allegations, according to the Financial Times Information service. German prosecutors raided the...
Offices of German Insurers Raided by Government
Jul 30 2002 // As part of an investigation into alleged price fixing by industrial property and liability insurers, a German federal agency raided the offices of 13 insurance companies. According to BestWire, the offices of Allianz AG...
EU Airlines Back Government Supported Terrorist Coverage Plan
Jun 14 2002 // As a crucial meeting of the European Union’s Transport Ministers approaches, the EU’s airlines have increasingly lined-up behind a plan which would establish a mutual insurance fund, backed by EU governments,...
Holocaust Insurance Claims Panel Faces Recriminations over Delays
Feb 11 2002 // Many European countries observed Sunday, Jan. 27 as Holocaust Memorial Day, a time set aside to honor the memory of the 12 million human beings—over six million of them Jewish—who perished at the hands of the Nazis...
AXA Plans to Expand German Coffee House Sales
Jan 23 2002 // France’s AXA Group plans to expand the sales of its insurance products in Germany through the country’s Tchibo coffee chain in a move aimed at countering the sales efforts of its three biggest rivals in...
