Book contents
- Frontmatter
- Contents
- Preface
- List of Abbreviations
- Photo Credits
- 1 The Allianz Concern and Its Leaders, 1918–1933
- 2 Allianz, Kurt Schmitt, and the Third Reich, 1933–1934
- 3 Adaptation and Aryanization
- 4 Allianz and the Reich Group: Politics of the Insurance Business in the Period of Regime Radicalization, 1936–1939
- 5 The “Night of Broken Glass” and the Insurance Industry
- 6 Allianz, the Insurance Business, and the Fate of Jewish Life Insurance Policies, 1933–1945
- 7 Allianz, Munich Re, and the Insurance Business in “Greater Germany”
- 8 Allianz and Munich Re in the Second World War
- 9 Confronting the Past: Denazification and Restitution
- Bibliography
- Index
6 - Allianz, the Insurance Business, and the Fate of Jewish Life Insurance Policies, 1933–1945
Published online by Cambridge University Press: 07 August 2009
- Frontmatter
- Contents
- Preface
- List of Abbreviations
- Photo Credits
- 1 The Allianz Concern and Its Leaders, 1918–1933
- 2 Allianz, Kurt Schmitt, and the Third Reich, 1933–1934
- 3 Adaptation and Aryanization
- 4 Allianz and the Reich Group: Politics of the Insurance Business in the Period of Regime Radicalization, 1936–1939
- 5 The “Night of Broken Glass” and the Insurance Industry
- 6 Allianz, the Insurance Business, and the Fate of Jewish Life Insurance Policies, 1933–1945
- 7 Allianz, Munich Re, and the Insurance Business in “Greater Germany”
- 8 Allianz and Munich Re in the Second World War
- 9 Confronting the Past: Denazification and Restitution
- Bibliography
- Index
Summary
INDIRECT CONFISCATION OF JEWISH LIFE INSURANCE ASSETS
on November 17, 1938, the directors of Isar Life Insurance Company sent an urgent request to the RWM and the RAA for permission to refuse payment to Jews seeking to cash in their life insurance policies at their current repurchase value. As company directors Paul Riebesell (who, ironically enough, had been driven out of his position as head of the Reich Group for Publicly Chartered Insurance for helping a Jewish student) and Eckert reminded the government authorities, Isar had taken over the German portion of the Austrian Phönix life insurance stock when that company collapsed in 1936 and — with the financial support of the Party, the government, and its corporate backers — had managed to guarantee the acquisition of this portfolio and to acquire a considerable amount of new business since then. As discussed in Chapter 4, Isar Life Insurance Company's portfolio was guaranteed by the entire German insurance industry, which of course included Allianz. Isar company directors warned that its successes were now threatened by Jewish cancellations because 20%—25% of Isar policyholders were non-Aryan. Although policy cancellations had increased significantly prior to November 9—10, the demands of the previous few days had been such, Riebesell and Eckert alleged, as to threaten the very existence of the company.
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- Information
- Allianz and the German Insurance Business, 1933–1945 , pp. 236 - 277Publisher: Cambridge University PressPrint publication year: 2001