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Remaining Mannheimer units 'are safe' from life arm failure.
(From Insurance Day)
Byline: Adrian Ladbury
THE non-life and health companies which made up the Mannheimer group alongside its recently closed life company are safe, according to board member Dr Lothar Stockbauer.
A spokesman for Mannheimer Holding told Insurance Day that Dr Stockbauer has confirmed that a deal has been struck which will secure the future of the two non-life operations.
Mannheimer's surviving management team has agreed to provide a credit of E220m ($249m) to pay the future liabilities of Mannheimer Life to its 844,000 policyholders.
The life company has been placed in run-off within Protektor Lebensversicherung, …
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