Latest Germany Headlines
All the headlines from our Germany Topic Page, ordered by recency.
China, India, Brazil Join U.S. As Among Biggest Contributors to Global Warming
Jan 17 2014 // China, India and Brazil — three of the largest developing nations— joined the U.S. in a list of the biggest historical contributors to global warming, according to a study by researchers in Canada. Seven nations...
German Public Sector Insurers Unlikely to Merge: Fitch
Jan 14 2014 // German public-sector insurers, which include Versicherungskammer Bayern and Provinzial Nordwest Holding AG, are unlikely to merge, Fitch Ratings said. “There is no requirement for such a high number of public- sector...
Baloise Germany Agrees to Eliminate 400 Jobs Over Four Years
Jan 8 2014 // Basler Versicherungen, the German unit of Swiss insurer Baloise Holding AG, reached an agreement to cut 400 jobs by the end of 2017 to reduce costs. The company, based in Bad Homburg, has “a framework agreement with...
Munich Re’s Review of 2013 Cat Losses Focuses on Weather-Related Events
Jan 7 2014 // In its annual review of loss events in the past year, Munich Re emphasized the “exceptionally high losses from weather-related catastrophes in Europe and Supertyphoon Haiyan,” which, the report said,...
German Firms Not Liable Under U.S. Alien Tort Statute for Aiding Apartheid
Dec 27 2013 // A U.S. judge on Thursday said Daimler AG and Rheinmetall AG cannot be held liable for allegedly aiding and abetting South Africa’s former apartheid government in race-based attacks and injustices. The plaintiffs in...
AIR Estimates Windstorm Xaver Insured Losses: $963 Million to $1.92 Billion
Dec 13 2013 // Catastrophe modeling firm AIR Worldwide estimates that insured wind losses from Extratropical Cyclone Xaver will range between €700 million [$963 million] and €1.4 billion [$1.926 billion], with the majority of the...
Northern Europe Cleans Up After Extratropical Cyclone Xaver: AIR Report
Dec 11 2013 // Catastrophe modeling firm AIR Worldwide has issued a report on the aftermath of Extratropical Cyclone Xaver, which affected large parts of northern Europe, particularly the United Kingdom, Northern Ireland, Germany, the...
Study Forecasts Growth for Professional Indemnity Insurance in Europe
Dec 10 2013 // New research by market research consultancy London-based Finaccord forecasts that the market for professional indemnity insurance across ten European countries – namely, Austria, Belgium, France, Germany, Italy,...
Hurricane Strength Storm Xaver Slams UK, Northern Europe: AIR Analysis
Dec 6 2013 // A report from catastrophe modeling firm AIR Worldwide notes that Winter Storm Xaver hit the north of Scotland last night, Thursday the 5th of December, with wind gusts of more than 140 mph (225 km/h), recorded in the...
Zurich Insurance Seeks Growth beyond Car Coverage in Germany
Dec 6 2013 // Zurich Insurance Group AG’s German unit, which sells auto insurance with the country’s ADAC automobile club, plans to offer a wider range of policies after reducing coverage following a surprise write-off last...
PERILS Initial Loss Estimate for Windstorm Christian is $1.358 Billion
Dec 6 2013 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has issued its initial loss estimate for windstorm Christian, which affected Western and Northern Europe from 27 to...
Axa Germany Sees Higher Profit; Plans New Life Insurance Product
Dec 4 2013 // Axa Konzern AG, the German unit of Paris-based Axa SA, plans to increase operating profit this year as it reduces costs and readies a new life insurance product for 2014. “Our cost-reduction program is proceeding...
German Finance Chief Schaeuble Vows to Help Insurers Vying with Low Interest Rates
Nov 21 2013 // German Finance Minister Wolfgang Schaeuble issued an unusual warning to the European Central Bank on Thursday, saying rate decisions must not offer “false stimulus” and that monetary policy alone would not...
Allianz Looks to Boost U.S. Presence, Improve Fireman’s Fund: Bhojwani
Nov 15 2013 // Allianz SE, Europe’s largest insurer, said it is committed to bolstering operations in the U.S. after international rivals scaled back in the country. “It is a monster market,” Gary Bhojwani, the...
Europe Urged to Retain Climate Leadership As Competitive Advantage
Nov 15 2013 // Europe’s abdication from climate leadership would stunt growth in the region and hand a huge economic advantage to China and the United States as they carve out their share of a multi-billion low-carbon market, a...
Zurich Insurance Reports Profit Rebound
Nov 15 2013 // Zurich Insurance Group AG, Switzerland’s biggest insurer, said third-quarter profit rose 64 percent, beating analyst estimates, after a write-off related to its German business hurt earnings a year earlier. Net...
European Insurers Welcome Deal on Solvency II Capital Rules
Nov 14 2013 // European insurers breathed a sigh of relief on Thursday that a deal on new capital requirements was less burdensome than initially feared, ending an uncertainty which has been hanging over the sector for many...
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...
