Latest Germany Headlines
All the headlines from our Germany Topic Page, ordered by recency.
S&P Assigns ‘A-‘ Rating to German Surety Insurer
May 6 2004 // Standard & Poor’s Ratings Services announced that it has assigned its “A-” long-term counterparty credit and insurer financial strength ratings to Hanover-based surety insurer Deutsche...
Allianz 2003 Profits $1.96 Billion, Dresdner Loss Weighs
Mar 19 2004 // Germany’s Allianz AG bounced back strongly from last year ‘s losses to post net profits of 1.6 billion euros ($1.96 bllion) for 2003. Nevertheless the poor performance of the Group’s banking operations,...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Moody’s Sees “Positive Impact” from Proposed German Tax Reforms
Oct 31 2003 // Moody’s Investors Service has issued a bulletin stating that “Germany’s proposed decision to reform the taxation of German life & health insurers would have a significant and timely positive impact...
Allianz Sees Return to Profit after Asset Sale, Tax Changes
Oct 24 2003 // Germany’s Allianz said it expects to achieve “positive results” for its 2003 fiscal year, not only from improved profitability in its operations, but also following the sale of 40 percent of its stake in...
German Tax Law Change Would Benefit Insurers
Oct 14 2003 // The German government is poised to introduce legislation that would change tax laws applicable to the country’s insurers, resulting in a substantial reduction in the amount of taxes they must pay. Originally reported...
ERC Announces Appointments
Sep 26 2003 // Overland Park, Kan.-based GE’s Employers Reinsurance Corporation (ERC) announced several new appointments. David Bassi is the new global risk and underwriting leader for ERC’s P/C reinsurance unit; Cora...
Allianz German P/C Operations Post Premium Gains
Aug 20 2003 // Allianz Property and Casualty Group Germany, which combines the property and casualty insurance business of the German Allianz companies, achieved a positive underwriting result in the first half-year of 2003 as gross...
Allianz Posts Strong 1st Half Results, $115 Million Profit
Aug 14 2003 // Germany’s Allianz confounded many analysts’ forecasts by reporting strong gains in most of its operations, posting a net profit of 102 million euros ($115.26 million) for the first half of 2003. The...
S&P Raises Gerling Allgemeine Rtgs. to BBB-/Watch Positive
Aug 1 2003 // Standard & Poor’s reported it raised to ‘BBB-‘ from ‘BB+’ its long-term counterparty credit and insurer financial strength ratings on Germany-based non-life insurer, Gerling-Konzern...
Court Decision Clears the Way for Gerling to Sell GKG; S&P Comments
Jun 25 2003 // Germany’s Gerling Group announced that the Hessen Higher Administrative Court in Kassel has dismissed an appeal by BaFin, the German financial supervisory authority, from an earlier decision by the Frankfurt...
Allianz Shows Improvements, But Posts $593 Million Q1 Net Loss
May 16 2003 // Germany’s Allianz reported a first quarter net loss of 520 million euros ($593.06 million), mostly due to another series of writedowns in the value of its investments, but from an operating point of view...
Best Assigns ‘B++’ Rating to Sovag
May 9 2003 // A.M. Best Co. announced that it has assigned a financial strength rating of B++ (Very Good) to SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG (Sovag) of Hamburg, Germany with a stable outlook. Although based...
ICHEIC Updates List of Potential Insurance Claimants
May 1 2003 // The International Commission on Holocaust-Era Insurance Claims is in the process of updating its website – www.icheic.org – to include as many as 379,000 new names of potential claimants, including families and...
German Gov’t Denies Lufthansa Terrorist Coverage
Apr 18 2003 // The German government recently announced it would not give state aid to Deutsche Lufthansa AG in the event of a terrorist attack, according to Dow Jones Newswires. The Finance Ministry cited insurers’ present...
S&P Ratings on Gerling to Remain on CreditWatch
Apr 4 2003 // Standard & Poor’s Ratings Services reacted to the news that talks between Germany’s Gerling Group and HDI have broken off (See IJ Website April 3) with an announcement that its current ‘BB+’...
Best Lowers Allianz Ratings, Company Denies Report on Asset Sales
Mar 24 2003 // A.M. Best Co. announced that it has lowered the financial strength rating to A+ (Superior) from A++ (Superior) of Germany’s Allianz AG and its core subsidiaries. It also lowered the ratings on Allianz’s senior...
Allianz Posts $1.28 Billion 2002 Loss; Cites Write-downs, Dresdner, Flood Losses
Mar 20 2003 // Germany’s Allianz AG joined the parade of big insurance companies that had a very bad year in 2002. For the first time since the end of the Second World War Europe’s largest insurer posted an annual loss, and...
Dietmar Zietsch Appointed Chairman of SCOR Deutschland Management Board
Jan 14 2003 // Dietmar Zietsch, who currently serves as Deputy Chairman of SCOR Deutschland, has been appointed Chairman of the Management Board of SCOR’s German subsidiary effective as of March 1, 2003. Zietsch, 48, holds a...
