ALLIANZ WANTS HOLOCAUST
CASES SETTLED OUT OF COURTFRANKFURT - German insurer Allianz AG has said it wants to find a broad out-of-court solution to several claims by Holocaust survivors alleging the insurer failed to settle claims on Nazi-era life policies.
But the company would not comment on a new suit filed last week in Los Angeles Superior Court by four relatives of Holocaust victims who alleged Germany insurers Allianz and Victoria and Italy's Generali have rejected claims on Nazi-era policies.
Allianz came under fire over the handling of such claims early in 1997, when its four units were named in a class-action suit in New York against 16 European insurers.
The suit alleged that the companies refused payment to beneficiaries of life insurance policies held by victims of Nazi persecution.
Allianz has insisted that most insurance claims from the Nazi era have already been settled either through the company or by restitution payments from the German government.
Allianz has also hired auditing firm Arthur Andersen to assess about 800,000 policy files surviving from the Nazi era. The report on the findings is expected to be released later this month.
MOST MOROCCANS LACK
COVERAGE, SURVEY SAYS
RABAT, Morocco - Nearly 90 percent of Moroccans have no insurance, according ot a recent survey.
Only 13.3 percent of people questioned said they subscribed to an insurance policy, with car insurance accounting for 9.0 percent of this figure, the economic weekly newspaper Le Journal said.
Morocco, which has a population of 28 million people, has 1.4 million cars. Road safety specialists say it has one of the world's highest accident rates.
The survey, carried out by Leger & Leger, who questioned 1,000 people aged over 15, showed only 3.5 percent had any health coverage.
Le Journal said revenue of 13 major insurance companies totaled 6.4 billion dirhams ($648.1 million) in 1997.
POE & BROWN BUYS 2
FIRMS; IN TALKS WITH A 3RD DAYTONA BEACH, Fla. - Poe & Brown Inc. has completed two acquisitions in the Southwest and is near completing one in Ohio.
In Las Vegas, Harris Insurance Services Inc. became a part of Poe & Brown, effective April 1, 1998.
John F. Phillips Insurance Inc., Prescott, Ariz., also joined Poe & Brown's expanding southwestern operations on April 1, 1998. ''John F. Phillips is being combined into Poe & Brown's existing Prescott, Ariz., operation,'' said Ken Kirk, president of Poe & Brown of Arizona.
J. Hyatt Brown, chairman, president and chief executive, said the company has entered into discussions to acquire Daniel James Insurance Agency Inc. Daniel James has offices in Toledo, Ohio, and Indianapolis.
Poe & Brown is a general insurance agency with headquarters in Daytona Beach and Tampa, Fla.
BRITAIN WINS AS CANADIAN
COMPANIES GO PUBLIC
LONDON - About 500 million pounds in windfall payouts from Canadian insurance companies will be pumped into the British economy in 1999, after Canada Life announced last week that it would convert to stock ownership.
Canada Life's planned demutualization will bring windfall payouts to 100,000 qualifying policyholders in Britain.
Canadian law has to be altered to allow the change to proceed, and payments may not be made to policyholders in late 1999.
Sun Life, Manulife and Mutual Life have also declared their intention to go public.
ALLIANZ WANTS HOLOCAUST