German market News

War in Ukraine Prompts Hike in Cyber Attacks on German Businesses

More than one in 10 German companies were the victim of a cyberattack last year, according to a new study, with the war in Ukraine prompting a steep increase in hacking in Europe’s largest economy. In a survey conducted by …

Thieves Blow Up German ATMs Every Day, With Attacks Rising 40%-Plus Since 2019

In the German town of Ratingen, exploding cash machines are a hot-button topic. Two got blown up early on the same morning last month, at branches of Santander and Deutsche Bank across the street from each other close to the …

Twitter Files Lawsuit Against German Rule for Online Reporting

Twitter has taken legal action against a rule, coming into force in Germany from Tuesday, that obliges social media firms to block or delete criminal content quickly and report particularly serious criminal offenses to the police, a German court confirmed …

Investors Cannot Sue German Regulator for Wirecard Collapse, Court Rules

Investors who lost money from investing in Wirecard AG shares can’t make Germany’s financial regulator Bafin compensate them, a Frankfurt court ruled. The tribunal on Wednesday threw out four suits by shareholders who claimed they lost between 3,000 euros ($3,404) …

Swiss Re-Backed Getsafe Gets German Insurance License, Permitting Europe Expansion

Digital insurer Getsafe has received its insurance license from Germany’s financial regulator, BaFin. The license will allow Getsafe to accelerate its expansion to the rest of Europe. “The license is a significant milestone – especially when considering that the German …

Cyber Attacks Make Working From Home Costly for German Businesses: Report

Working from home during the pandemic cost German companies some 53 billion euros ($62 billion) worth of damages from cyber attacks, according to estimates by the Cologne Institute for Economic Research. Overall damages hit a record 224 billion euros last …

Insured Losses from European Floods Estimated at $6 Billion-$7.7 Billion: RMS

RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion and €6.5 billion (US$6 billion and US$7.7 billion). …

Insured Losses from July Floods in Germany Could Approach $6B: AIR Worldwide

AIR Worldwide, the Boston-based catastrophe modeling firm, estimates insured losses in Germany from July flooding could approach €5 billion ($6 billion). Low pressure system “Bernd” parked itself over central Europe and brought about significant flooding from July 13 to 18, …

Germany’s Floods Will See ‘Sizable’ Protection Gap. Could Insurance Demand Increase?

With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance “protection gap.” This protection gap – or …

German Floods Will Be Expensive but Unlikely to Burn Through Insurers’ Earnings: Fitch

The recent severe floods in Germany could add up to 5 percentage points to German non-life insurers’ net combined ratios (net claims and expenses to net premiums), according to Fitch Ratings. The insured losses are likely to be Germany’s highest …