Latest Germany Headlines
All the headlines from our Germany Topic Page, ordered by recency.
Reinsurance Terms and Conditions, More Than Price, Could Be Focus in 2014
Sep 6 2013 // Reinsurers may fail to increase rates they charge primary carriers for their backstop coverage when they begin price talks for 2014 in Monte Carlo this week. “I expect the market staying flat to ticking down, on the...
July Hailstorms in Germany May Cost $2 Billion
Aug 26 2013 // Hailstorms that struck Germany at the end of July may have caused as much as $2 billion in damage, catastrophe modeler AIR Worldwide said on its website. Damages from the storms, which pounded northern and southern areas...
Talanx Raises 2013 Profit Forecast After Swiss Life Stake Sale
Aug 14 2013 // Talanx AG, the German insurer that sold stock in an initial public offering last year, raised its profit goal for 2013 after the sale of shares in Swiss Life Holding AG boosted earnings. Talanx is “cautiously...
Hannover Re Q2 Net Rises 29% on Investment Income
Aug 7 2013 // Hannover Re, the world’s fourth biggest reinsurer, said second-quarter profit rose 29 percent, beating analysts’ estimates, helped by higher investment income. Net income advanced to €186.3 million ($247.9...
Best Europe Affirms ‘A+’ Ratings of Allianz SE and Subsidiaries
Jul 11 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Germany’s Allianz Societas Europaea...
Flood Losses Dominate Disaster Count in 1st Half of 2013: Munich Re
Jul 9 2013 // Floods caused billions of dollars in losses and dominated the natural catastrophe statistics for the first half of 2013, according to a study released by Munich Re. “Around 47 percent of the overall losses and 45...
AIR Estimates Insured German Flood Losses between $5.28 and $7.66 Billion
Jun 20 2013 // Catastrophe modeling firm AIR Worldwide estimates that insured losses in Germany from the recent floods in Central Europe are between €4.0 billion [$5.28 billion] and €5.8 billion [$7.66 billion]. The overall economic...
Aon Benfield’s Impact Forecasting Releases Model for Recent German Floods
Jun 13 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model for the recent German floods. The bulletin explained that by “using event footprints that...
Floods Could Cost Germany $16 Billion in Economic Damage Warns Fitch
Jun 12 2013 // Floods that have devastated parts of southern and eastern Germany could briefly impede growth in Europe’s biggest economy, an industry body said, while ratings agency Fitch said the economic cost could be as high as...
Hungary Contains Danube Flooding as German Dikes Bursts on Elbe
Jun 10 2013 // Hungary was set to contain the Danube river from overflowing in Budapest while the economic toll grew in eastern Germany, where thousands of people have been forced to evacuate along the Elbe River. Hungarian authorities...
Insured Losses from Europe Floods Estimated at $2.65B, Less Than in 2002
Jun 7 2013 // The losses insurers face from the worst flooding in central Europe since 2002 may be lower than those resulting from the deluge 11 years ago even as the toll on local economies looms larger. Insured losses may reach 2...
Germans Battle Rising Floods Threatening Historic Cities
Jun 6 2013 // Firefighters, soldiers and volunteers in eastern Germany toiled through the night to defend against floods that have submerged towns, villages and farmlands for the second time in 11 years. Crews in Dresden, home to the...
East Germany Prepares for Dam Bursts as Prague Begins Clean-Up
Jun 5 2013 // As the people of Prague started to clean up after three days of flooding, residents in the eastern German cities of Dresden, Halle and Meissen were bolstering their defenses against the torrents of water still surging from...
Floods in Central Europe Near Peak; Prague Among Hardest Hit Cities
Jun 4 2013 // Floodwaters that inundated Prague and swamped large areas of central Europe may peak today as emergency crews work to open river traffic, drain submerged neighborhoods and count the cost of the storm damage. Chancellor...
Central Europe Hit by Rains, Floods and Landslides: AIR Analysis
Jun 4 2013 // Catastrophe modeling firm AIR Worldwide has released a report on the current heavy rains and floods that have inundated large parts of Central Europe during the past several weeks, causing “some of the worst floods...
Germany, Czech Republic Brace for more Flooding after Heavy Rains
Jun 3 2013 // Heavy rainfall swelled already full rivers in southern and eastern Germany on Saturday, prompting authorities to reinforce flood defenses after at least two people drowned in recent days. Water levels on the Rhine, Danube...
No Light yet at End of Euro Zone Tunnel; Global Economic Weakness Persists
Apr 23 2013 // An early peek this week at how the euro zone economy performed in April could cement the case for the next installment in an unprecedented campaign of monetary easing by the world’s major central banks. A preliminary...
Ratings Recap: Saturn, Western General, German Mutual, Accredited Surety
Apr 22 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Vermont-based captive insurer Saturn Insurance Inc....
Joint Bonds Needed to Save the Euro Says George Soros
Apr 11 2013 // All euro zone governments need to issue bonds jointly to ensure that the common currency survives the sovereign debt crisis, investor George Soros said on Tuesday. Soros, a liberal philanthropist who rose to fame as an...
German Minister Says Tax Haven Report Will ‘Increase Pressure’
Apr 5 2013 // German Finance Minister Wolfgang Schaeuble said on Friday he was glad the identities of thousands of holders of bank accounts in tax havens had been leaked because it would help do away with a business model that Cyprus...
