By Gerald D. Feldman
Gerald Feldman's background of the the world over fashionable assurance company Allianz AG within the Nazi period relies mostly on new or formerly unavailable archival assets, making this a extra actual account of Allianz and the lads who directed its enterprise than was once ever earlier than attainable. Feldman takes the reader via various circumstances of collaboration and clash with the Nazi regime with equity and a dedication to trained research, concerning problems with damages within the Pogrom of 1938, insuring amenities utilized in pressured exertions camps, and the issues of denazification and restitution. the wider matters tested during this study--when cooperation with Nazi guidelines was once obligatory and whilst it was once complicit, the best way revenue, ideology, and opportunism performed a task in company choice making, and the query of the way Jewish assurance resources have been expropriated--are fairly proper this present day given the continuing foreign debate approximately restitution for Holocaust survivors. This booklet joins a transforming into physique of scholarship in line with open entry to the documents of German companies within the Nazi period. Gerald D. Feldman is Professor of heritage on the collage of California at Berkeley. His ebook, the nice ailment (Oxford, 1993) got the DAAD publication Prize of the German historic organization and the ebook Prize for important eu historical past from the yankee old organization. He used to be an invited specialist on the London Gold convention in December 1997 and on the U.S. convention on Holocaust resources in Washington, D.C. in December 1998 and served as an consultant to the Presidential Commision on Holocaust resources within the usa.
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26 Allianz and the German Insurance Business, 1933–1945 initiative and whose sheer strength had made it possible to provide the surest and most speedily implementable alternative to bankruptcy. This solution is in sharp contrast to that involving the failure of Danat-Bank in July 1931 (under, to be sure, much worse economic and financial conditions). The major banks refused or failed to come to the aid of Danat; the government had to step in and take over Danat-Bank and later Dresdner Bank, while the banking system itself was subjected to much more rigorous controls and much more serious attacks.
Also, a larger number than desired of Stuttgarter directors had to be taken on board the consolidated company. The name of the new company was a major issue, and the final decision was to call it the Allianz und Stuttgarter Verein Versicherungs-AG. Schmitt’s willingness to make these concessions was crucial to the success of the effort, but Georgii (who was to become chairman of the supervisory board of the consolidated companies) later admitted to Hilgard that the most decisive factor was Schmitt’s persistence and 22 3.
Also, Lauinger began informing members of the Favag supervisory board and the Reich Supervisory Office for Insurance of serious problems at Favag. It is important to realize that since 1901 the private insurance business had been subject to national government regulation under the Reich Insurance Law (VAG). This law had created the Reich Supervisory Office for Insurance (RAA), which was charged with the tasks of licensing insurance companies after investigating their trustworthiness, making sure that the coverage for life insurance policies was administered separately from other assets and was securely invested, and making sure that insurance companies complied with the business plan they had regularly to submit in order to receive and retain their business licenses.