July 21, 2020
German payments company Wirecard has hired Alix Partners for a forensic investigation of the accounting scandal that led to its collapse, people close to the matter said. The blue-chip company filed for insolvency last month, owing creditors almost $4 billion …
July 7, 2020
BERLIN/FRANKFURT – German prosecutors said on Monday they had arrested the head of a Dubai-based subsidiary of Wirecard, widening the circle of suspects in a multi-billion-dollar fraud investigation into the collapse of the payments company. The Munich prosecutor’s office said …
June 25, 2020
Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books in Germany’s worst accounting scandal. The implosion of the payments company came a week after auditor EY refused to sign off its 2019 …
October 15, 2019
French insurer AXA is considering selling its Central European business as part of a restructuring to quit markets where it lacks scale, three sources familiar with the situation said. AXA is undergoing a deep restructuring to help it cope with …
July 11, 2019
Reinsurance group Swiss Re suspended plans for a $4.1 billion initial public offering of British life insurer ReAssure on the day it was set to start trading in London, citing weak demand from institutional investors. The cancellation comes as global …
April 24, 2019
Allianz and Amundi are considering rival deals to tie up their asset management units with Deutsche Bank’s DWS, sources close to the matter said on Wednesday. Their interest comes as Germany’s biggest bank considers a possible merger with Commerzbank, with …
June 28, 2018
Italy’s Generali is expected to start exclusive talks shortly over the potential sale of its 40 billion euro ($48 billion) German life insurance portfolio to private equity-backed Viridium, a person close to the matter said. Generali and Viridium declined to …
November 29, 2017
Munich Re’s ERGO unit has dropped plans to sell run-off life insurance policies, saying non-binding offers received by the company were too low. “In ERGO’s view, the current value of the portfolios and its potential appreciation is not adequately reflected …
July 13, 2017
Generali has put its 44 billion euro ($50 billion) German life insurance portfolio up for sale as it restructures in Europe, sources close to the matter said. Morgan Stanley is evaluating options, including a sale, for Generali Leben which ceased …
January 30, 2017
Germany’s Allianz has made an informal takeover approach to QBE Insurance, Australia’s biggest insurer, but has not named a price, sources told Reuters on Monday. Shares in QBE closed flat after rising by up to 5 percent, while Allianz was …