How Bafin boss Felix Hufeld justifies himself

Berlin, Frankfurt Felix Hufeld was more important for the finance politicians this Wednesday afternoon than the Chancellor. The hearing of the Bafin chief in the finance committee should actually end by 1 p.m. at the latest, since then Angela Merkel (CDU) commented on the German EU Council Presidency in plenary. However, from the point of […]

Insurer Axa loses in dispute over restaurant closings

Waiter with a mask Bars and restaurants have been closed in many countries to slow the spread of the corona virus. (Photo: Bloomberg) Paris The French industry giant AXA has suffered a defeat in the dispute over business closure insurance for hotels and restaurants in the corona crisis. A commercial court awarded the operator of […]

Company pension: Federal government wants to close the protection gap

German Bundestag Legislators want to do more to protect occupational pensions. (Photo: imago images / imagebroker) Berlin The Federal Government wants to better secure benefits from the company pension in the future. If an employer becomes insolvent, the Pensions-Sicherheit-Verein (PSV) should, under certain conditions, take over the payment of the company pension that the employer […]

FDP calls for moratorium on financial market regulation

Reichstag at night The Federal Government has planned a number of regulations for the financial market and has already passed some of them. (Photo: dpa) Berlin Over the past few weeks, the federal government and the Bundestag have decided massive aid for companies affected by the corona crisis. The FDP wants to relieve the companies […]

Consumer advocates and the banking industry are promoting uniform supervision

Bafin In the future, the financial supervision should monitor the approximately 38,000 financial asset brokers. (Photo: Reuters) Berlin Bank associations and consumer advocates tend to have different opinions on regulatory issues. Now they have decided to take an unusual step: In a joint letter to parliamentarians from the government factions, the central association of the […]

China wants to facilitate the entry of foreign life insurers

China Anbang Insurance The Chinese insurer’s headquarters in Beijing (Photo: picture alliance / Zhou junxiang – Imaginechina) Hong Kong According to insiders, China wants to open up more to foreign life insurers and facilitate mergers with local actors. The capital cushion of small and medium-sized Chinese life insurers should be strengthened, several people familiar with […]

Bafin does not see life insurers at risk from the corona crisis

Bafin With regard to life insurers, the financial regulator assures: “The situation is not a threat to the existence of the industry.” (Photo: Reuters) Frankfurt The financial market regulator Bafin considers the situation of German life insurers to be manageable overall in the corona crisis. “This is due to the measures that the industry has […]

Allianz maintains planned dividend

alliance The buyback program in the amount of 1.5 billion euros is to be stopped once half of the amount. (Photo: dpa) Munich Europe’s largest insurer Allianz wants to pay its shareholders a dividend for 2019 despite the corona crisis and against the advice of European supervisors. “Although it can be expected that the current […]

Regulators argue about dividend payments

Frankfurt The normal case goes like this: At the Annual General Meeting, shareholders criticize the distribution policy of a stock corporation. The dividend is too low, in view of the high profits, more must be paid out urgently. Such discussions are rather rare at the two Munich insurers Allianz and Munich Re. Both have been […]

Insurers are now paying for restaurant closures

insurer Allianz also intends to pay for the hotels and restaurants affected by closings through the corona pandemic in the case of existing business closure insurance. (Photo: dpa) Munich Hotels and restaurants closed due to the corona pandemic are now getting money from the insurance, at least in Bavaria. The Association of Bavarian Business (vbw) […]