Consolidation of German Mutual Insurers Benefits Allianz -- Market Talk

Dow Jones10-30

1103 GMT - Allianz indirectly benefits the most from the consolidation of German mutual insurers as the country's dominant primary insurer, Berenberg says in a research note. "We believe the reduction in market fragmentation will lead to more rational pricing in German motor insurance, and this will allow Allianz to gain market share without giving up margins," the analysts write. They add that peers Talanx and Hannover Re also stand to benefit. Four mergers between German mutuals have been announced or completed so far this year and more are expected due to their large number in Germany. Consolidation this way--rather than via takeovers by listed insurers--achieves the needed benefits of scale and diversification without the risks to regional footprints and cultural identity, they add. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

October 30, 2024 07:03 ET (11:03 GMT)

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Four mergers between German mutuals have been announced or completed so far this year and more are expected due to their large number in Germany. Consolidation this way--rather than via takeovers by listed insurers--achieves the needed benefits of scale and diversification without the risks to regional footprints and cultural identity, they add. 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They add that peers Talanx and Hannover Re also stand to benefit. Four mergers between German mutuals have been announced or completed so far this year and more are expected due to their large number in Germany. Consolidation this way--rather than via takeovers by listed insurers--achieves the needed benefits of scale and diversification without the risks to regional footprints and cultural identity, they add. 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