Latest Germany Headlines
All the headlines from our Germany Topic Page, ordered by recency.
Allianz Raises 2013 Earnings Goal as Q3 Profit Climbs
Nov 8 2013 // Allianz SE, Europe’s biggest insurer, increased its full-year earnings goal after third-quarter profit rose 6.3 percent, beating analysts’ estimates. Net income advanced to €1.45 billion ($1.946 billion) from...
AIR Estimates Insured Losses from Europe Windstorm at $2-$3 Billion
Nov 7 2013 // Catastrophe modeling firm AIR Worldwide has estimated that insured losses from Windstorm Christian (known as St. Jude in the UK) will range between €1.5 billion €2.3 billion [$2 to $3 billion], with the majority of...
Munich Re Plans $1.35 Billion Buyback as Q3 Net Beats Estimates
Nov 7 2013 // Munich Re, the world’s biggest reinsurer, plans to buy back €1 billion ($1.352 billion) of its shares as third-quarter profit dropped 44 percent. Net income dropped to €637 million [$861.2 million] from €1.13...
Hannover Re Sees Higher Rates in Germany on Floods, Hailstorms
Oct 23 2013 // Hannover Re, the world’s third largest reinsurer, said it expects higher rates for insurance and reinsurance in Germany following this year’s flooding and hailstorms, which led to the most costly claims in 30...
Europe 9 Month Nat Cat Losses $23 Billion+; Trending Upwards: Munich Re
Oct 21 2013 // A report from Munich Re estimates that losses due to natural catastrophes totaled €17 billion [$23.24 billion] in Europe in the first nine months of 2013, “dominated by flood losses, which accounted for a share of...
Allianz CEO Says New Regulation to Create Room for Acquisitions
Oct 17 2013 // Allianz SE’s CEO Michael Diekmann 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...
XL Puts Preliminary Losses at $60 Million from Germany, France Hail Storms
Sep 27 2013 // XL Group plc announced its preliminary net loss estimate related to the series of hailstorms in Germany and France in late July 2013 of $60 million, pretax and net of reinsurance and reinstatement premiums. The majority of...
Swiss Re Estimates $240 Million in Claims from German July Hail Storms
Sep 23 2013 // Swiss Re said it estimates industry wide insured losses from the hail storms in northern and Southern Germany in July will be between $2.0 and $2.7 billion, while it’s estimating its own claims burden to be...
Former Zurich Chair Ackermann Quits Siemens, Refutes Influence in CFO Suicide
Sep 12 2013 // Josef Ackermann will step down from Siemens AG’s supervisory board, two weeks after he resigned as chairman of Zurich Insurance Group AG following his naming in the suicide note of finance chief Pierre Wauthier. The...
Hannover Re Agrees: No Change in Most Reinsurance Rates in 2014 Renewals
Sep 10 2013 // Hannover Re, the world’s third- largest reinsurer, said it expects reinsurance rates at price negotiations for January renewals to remain little changed. Pricing will be “rather stable,” Chief Executive...
Munich Re Sees Stable Reinsurance Rates in January Renewals
Sep 9 2013 // Munich Re, the world’s biggest reinsurer, said it expects stable rates for its property and casualty reinsurance at January price negotiations. “Prices will remain largely stable, chiefly due to the still...
Reinsurance Terms and Conditions, More Than Price, Could Be Focus in 2014
Sep 6 2013 // Reinsurers may fail to increase rates they charge primary carriers for their backstop coverage when they begin price talks for 2014 in Monte Carlo this week. “I expect the market staying flat to ticking down, on the...
July Hailstorms in Germany May Cost $2 Billion
Aug 26 2013 // Hailstorms that struck Germany at the end of July may have caused as much as $2 billion in damage, catastrophe modeler AIR Worldwide said on its website. Damages from the storms, which pounded northern and southern areas...
Talanx Raises 2013 Profit Forecast After Swiss Life Stake Sale
Aug 14 2013 // Talanx AG, the German insurer that sold stock in an initial public offering last year, raised its profit goal for 2013 after the sale of shares in Swiss Life Holding AG boosted earnings. Talanx is “cautiously...
Hannover Re Q2 Net Rises 29% on Investment Income
Aug 7 2013 // Hannover Re, the world’s fourth biggest reinsurer, said second-quarter profit rose 29 percent, beating analysts’ estimates, helped by higher investment income. Net income advanced to €186.3 million ($247.9...
Best Europe Affirms ‘A+’ Ratings of Allianz SE and Subsidiaries
Jul 11 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Germany’s Allianz Societas Europaea...
Flood Losses Dominate Disaster Count in 1st Half of 2013: Munich Re
Jul 9 2013 // Floods caused billions of dollars in losses and dominated the natural catastrophe statistics for the first half of 2013, according to a study released by Munich Re. “Around 47 percent of the overall losses and 45...
AIR Estimates Insured German Flood Losses between $5.28 and $7.66 Billion
Jun 20 2013 // Catastrophe modeling firm AIR Worldwide estimates that insured losses in Germany from the recent floods in Central Europe are between €4.0 billion [$5.28 billion] and €5.8 billion [$7.66 billion]. The overall economic...
Aon Benfield’s Impact Forecasting Releases Model for Recent German Floods
Jun 13 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods. The bulletin explained that by “using event footprints that...
Floods Could Cost Germany $16 Billion in Economic Damage Warns Fitch
Jun 12 2013 // Floods that have devastated parts of southern and eastern Germany could briefly impede growth in Europe’s biggest economy, an industry body said, while ratings agency Fitch said the economic cost could be as high as...
