Generali Reported To Agree To $150 Million Holocaust Payment

June 23, 2000

“Generali has agreed to pay all valid unpaid holocaust-related claims at the valuation already established by the International Commission,” World Jewish Congress (WJC) executive director Elan Steinberg, reportedly told Reuters News Agency.

The agreement, although not yet official, would give investigators complete access to Generali’s archives, where it’s estimated there may be as many as “20,000 holocaust policy names.”

It would further provide for policies to be paid “in real value” and “relaxed standards of proof,” would be used to evaluate them, overseen by the Jerusalem Foundation under the supervision “of a former Israeli supreme court judge.”

The claims estimate of $150 million could serve as a model for settlement with other insurance companies, indicated Steinberg. This would include AXA, Winterhur, Zurich Financial and the Dutch Insurers, principally, ING, Aegon and Fortis, who recently agreed to join the International Commission investigating holocaust claims. German companies have already pledged to provide $300 million in funds to the Commission to settle their claims.

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