A report in the German edition of the Financial Times states that Deutsche Bank (DB) is seeking to find a way to divest its 34.5 percent stake in Gerling Global, as a result of the company’s large reinsurance losses.
Gerling announced yesterday that the losses, mainly from the Sept. 11 attacks, amount to € 500 million ($439 million) and DB was required to make an emergency capital injection of € 300 million ($263.4 million) to cover them, according to the FT.
As a result DB’s CEO Rolf Breuer reportedly is looking for ways to unload an investment that the FT calls “expensive and unprofitable.”|”report, deutsche, bank, seeks, divest, stake, in, gerling
Was this article valuable?
Here are more articles you may enjoy.
Study: AI May Be Tempering Insurer Hiring 
Chubb to Serve as Lead US Insurer for Gulf Shipping Amid Iran War 
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI 
Georgia Teacher Killed When Toilet Paper Prank by Students Goes Wrong 
