Germany - Latest Insurance News

Former CEO of Wirecard Arrested in Accounting Scandal Involving Missing $2.1 Billion

Jun 23 2020 // FRANKFURT – Wirecard’s former boss was arrested on Tuesday on suspicion of falsifying accounts, after the German payments firm disclosed a $2.1 billion financial hole and questioned whether trustees had...

Russia Aims to Complete Nord Stream Gas Pipeline, Despite U.S. Objections

Jun 17 2020 // Russia’s Gazprom PJSC has made a request with the Danish government to deploy new vessels in the Baltic Sea for work on the disputed Nord Stream 2 gas pipeline, Denmark’s environmental protection agency...

Germany’s Rhine River at Dangerously Low Levels, Which Could Disrupt Shipping

Jun 9 2020 // Germany’s Rhine River is entering dry summer months with water levels at their lowest in two decades, prompting fears of shipping disruption on Europe’s most important inland waterway. After spring showers...

German Insurer Allianz Seeks Asset Management License from China Regulators

Jun 5 2020 // Allianz is in talks with Chinese regulators for a license as the German insurer looks to eventually offer broad asset management services in the world’s second-largest economy. Discussions for a license to manage its...

Senators Seek to Expand U.S. Sanctions to Insurance for Russia-Europe Pipeline

Jun 4 2020 // U.S. senators will announce a bill this week expanding sanctions on Russia’s Gazprom-led Nord Stream 2 project, Senate aides said, targeting a pipeline Washington says will make Europe too reliant on Russian gas. The...

German Court Backs Damages Claims Against VW, Providing Clarity for 60,000 Cases

May 28 2020 // A German court has ruled that Volkswagen must buy back cars from owners of its diesel cars equipped with software that evaded emissions testing – but but consumers must accept the current value of the car based on the...

Allianz and Generali Plan to Sell Life Insurance Assets: Sources

May 28 2020 // Two of Europe’s largest insurers are gearing up to sell billions of euros in life assets — a niche corner of dealmaking keeping bankers busy amid the coronavirus pandemic. Allianz SE is planning to divest as...

SAP Admits to Security Lapses in Some Products, but Says There Was No Data Breach

May 6 2020 // Business software group SAP disclosed on Tuesday that some of its cloud products did not meet contractual or statutory security standards and said it would take remedial action to fix the problem as soon as possible. The...

German Judge Casts Doubt on VW’s Defense in Landmark Diesel-Damages Case

May 5 2020 // A German federal court judge cast doubt on Volkswagen’s reasoning after the carmaker urged the court to dismiss a claim for damages brought by an owner of a diesel powered VW Sharan family van. Tuesday’s...

RMS Releases High Definition Models for European Severe Convective Storm

May 5 2020 // RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the release of new European Severe Convective Storm (EU SCS) High Definition Models. The models represent 50,000 years of simulation of hail and...

Allianz Withdraws 2020 Profit Target on Pandemic Uncertainties

May 1 2020 // Allianz SE withdrew its forecast for the year as Europe’s biggest insurer struggles with the fallout from the Covid-19 pandemic. Given the economic uncertainty, the board “does not assume that Allianz can...

German Economy Relies on Rhine River – But Levels Are Low Without April Rainfall

Apr 28 2020 // Germany’s spring showers haven’t materialized this year, and that’s drying out the country’s most important river, prompting concerns that key industrial goods might have trouble making it to their...

Swiss Re Corporate Solutions Appoints Grass as CFO, Succeeding Mueller

Apr 21 2020 // Swiss Re Corporate Solutions appoints Matthias Grass as chief financial officer, where he will be responsible for ensuring the Swiss Re business unit achieves its financial targets and implements its strategy. He will...

Notre Dame Restoration Halted by France’s Coronavirus Lockdown

Apr 20 2020 // Notre Dame Cathedral stands crippled and alone, locked in a dangerous web of warped scaffolding one year after a cataclysmic fire gutted its interior, toppled its famous spire and horrified the world. Some of the 40,000...

Europe Needs Its Own Approach to Coronavirus Tracing, Say German Tech Startups

Apr 15 2020 // Europe should not cede its sovereignty to Silicon Valley when it comes to using technology to help trace those at risk of coronavirus infection, the German developers of a smartphone app said on Tuesday. Apple and Google...

Lemonade Launches in Its 2nd European Country: The Netherlands

Apr 2 2020 // Lemonade, the New York-based insurer that is powered by artificial intelligence, has launched in a second European country – the Netherlands. Dutch consumers can now get contents and liability insurance instantly,...

Germany to Provide Credit Insurance Guarantees to Keep Trade Flowing: Sources

Apr 2 2020 // The German government and the country’s credit insurance industry have agreed to help to maintain insurance cover for trade despite economic hardship related to the coronavirus outbreak, three people with knowledge...

Supply Chain Problems Move from China to U.S. and Other Nations

Mar 23 2020 // Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most...

Western Supply Chains Begin to Buckle on Expanding Coronavirus Lockdowns