Generali cuts estimate of Holocaust policies

Article Abstract:

Assicurazioni Generali SpA has cut estimate of number of policies held by Holocaust survivors from 340,000 to about 100,000. The company also said that it is not liable for paying survivors or their heirs for policies which were not paid after World War II. According to company officials, the governments of eastern Europe should be the ones paying for policies, since all the company's assets in the said countries were liquidated by the Communist government after the war. Officials said that the company has already paid any post-war claims.

Comment:

Has cut estimate of number of policies held by Holocaust survivors from 340,000 to about 100,000

Czech Republic, Life Insurance, Direct Life Insurance Carriers, Liabilities NEC, Assicurazioni Generali SpA

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Allianz to link with Dresdner, creating unit

Article Abstract:

Allianz AG, the world's largest insurer, has formed a joint venture in asset management with Germany's third-largest bank, Dresdner Bank AG. Called ADAM Service GmbH, it will have a total of 1.08 trillion marks ($636.87 million) of assets under management. However, the new joint-venture unit will not impact on the existing asset-management business of both companies. Instead, Allianz and Dresdner's joint-venture unit will work to boost the companies competitiveness as they expand to new markets in Europe.

Comment:

Has formed a joint venture in asset management w/ Dresdner Bank AG, called ADAM Services GmbH

Germany, Joint ventures, Investment Advisory Services, Investment Advice, Investment advisers, Allianz Aktiengesellschaft Holding, Dresdner Bank AG (Frankfurt, Germany)

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