German terrorism insurer mulls over global coverage
Munich
GERMAN terrorism insurer Extremus Versicherungs-AG, set up to cover terrorism-related claims following the Sept 11 attacks in New York, is considering offering global coverage as its premium income shrinks.
The insurer, whose shareholders include Allianz SE and Munich Re, may start offering policies outside Germany within three months because of the demand from clients, said chief executive officer Gerhard Heidbrink. Extremus, which is backed by the government, refers companies seeking international coverage to firms such as Lloyd's of London Ltd. Others offering terrorism coverage include American International Group Inc and National Fire & Marine Insurance Co.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
Barclays Q1 profit falls 12% as mortgage competition, deals drought hit
Deutsche Bank Q1 profit jumps 10% as investment bank outperforms
Latest Singapore 6-month T-bill offering cut-off yield of 3.74% as applications dip
Morgan Stanley Asia private equity unit to reorganise as CEO retires
US seeks 36 months’ jail for Binance founder Zhao