Reinsurers brace for 'triggers'

Article Abstract:

The common use of "trigger clauses" in reinsurance company contracts allows clients to easily withdraw their contracts in response to downgrades in a reinsurer's financial security rating. Rating agencies warn that such clauses are dangerous because a spate of lost contracts for a struggling company can lead to a sudden and fatal financial crunch.

Financial management, Switzerland, Contracts & orders received, Management dynamics, Contracts & orders let, Industry Overview, Analysis, Management, Finance, Influence, Contracts, Contract agreement, Company business management, Insurance policies, Company financing, Clauses (Law), Contract clauses, Rating agencies (Securities), Converium

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Allianz to buy rest of Italian Unit as part of streamlining initiative

Article Abstract:

Allianz AG of Germany is planning a restructuring that includes a buyout of its Italian subsidiary Riunione Adriatica di Sicurta S.p.A. for 5.7 billion Euros ($7.07 billion). Allianz AG is the largest insurance group by sales in Europe.

Italy, Germany, Organizational history, Company restructuring/company reorganization, Reorganization and restructuring, Company Profile, Allianz Aktiengesellschaft Holding, Company organization

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