Latest Germany Headlines
All the headlines from our Germany Topic Page, ordered by recency.
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...
Gallagher Acquires Lloyd’s Broker MRS; Willis Ups Stake in German Broker JWA
Nov 28 2001 // Two of the world’s biggest insurance brokers are growing. Arthur J. Gallagher & Co. announced that it had acquired MRS Holdings Ltd. of London for an undisclosed amount, and Willis Group Holdings said it will...
German Gov’t. To Ease Asset Value Rules for Insurers
Nov 7 2001 // The German government has introduced legislation designed to ease the rules on the valuation of their equity investments for German insurers, who have been exposed both to increased claims resulting from the Sept. 11...
Global Insurers Acknowledge Increased Exposures from Attacks
Oct 10 2001 // A number of global insurers/reinsurers have acknowledged greater exposure to claims related to the destruction of the World Trade Center, with increased estimates for the amount they expect to pay out. The total cost to...
Zurich Sells Scudder Financial Unit to
Sep 25 2001 // The Anglo-Swiss group Zurich Financial Services (ZFS) and Germany’s Deutsche Bank (DB) announced agreement on a number of cooperation initiatives and the sale of business assets, most notably the transfer of fund...
International Insurance Stocks Plunge for
Sep 13 2001 // The day after the Sept. 11 terrorist attacks on the U.S, insurance stocks fell significantly in international trading. The DJ Stoxx insurance index reportedly fell to a three-year low at 8:27 a.m. EDT, following a 13...
RMS Adds Japanese, German Data to Weather Risk Management System
Aug 23 2001 // Risk Management Solutions announced that its Climetrix (TM) weather derivatives trading and risk management system now includes relevant temperature data from Germany and Japan, two expanding markets for weather derivative...
Nationwide Agrees to Sell Neckura Holding AG
Jul 17 2001 // According to an A.M. Best report, Nationwide Mutual Insurance Co. said it agreed to sell Neckura Holding AG, the parent of its German automobile insurance operations, to Zurich Group Germany, a unit of Switzerland’s...
Allstate To Sell German, Italian Auto to Direct Line
Jun 21 2001 // Allstate announced yesterday that it would sell its direct auto insurance businesses in Germany and Italy to the U.K.’s Direct Line. The German operation, launched in 1997 has around 117,000 policies in force. The...
Element Re’s First Deal Covers German Rainfall Risk
May 25 2001 // Bermuda-based Element Re, a subsidiary of XL Capital, has concluded its first international deal: a policy to protect the German utility provider Elektrizitatswerk Dahlenburg AG from any adverse economic effects from...
Allianz Moves To Reduce Eon Shareholding
May 8 2001 // Germany’s Allianz AG announced that it was considering reducing its holdings, estimated to be worth around $3.8 billion, in the German power company Eon to facilitate its acquisition of British utility company...
Allianz Makes Deal to Purchase Dresdner Bank for $20.5 Billion
Apr 9 2001 // After a week of intensive negotiations, Allianz AG and Dresdner Bank, Germany’s third largest, announced on April 1 that they have agreed to join forces to create Germany’s biggest financial institution. With...
