FINANCIAL SENSATION.
GERMAN INSURANCE COMPANY IN DIFFICULTIES. OUTSIDE BUSINESS RISKS. (Reeeivied Wednesday, 7.45 pm.) BERLIN, August 21. Financial circles experienced a sensation when they learned that the General Insurance Company, the second largest company in Germany, is on the verge of a catastrophe. Its purely insurance reserves ere intact, But recently it engaged in outside business, including the financing of instalment sales of motor cars and the support of small banks, with the result that the oompany is now responsible for guarantees amounting to eight millions sterling, including two millions sterling to British and Swiss Financiers.—(Australian Press Association.)
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Bibliographic details
Wairarapa Age, 22 August 1929, Page 5
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98FINANCIAL SENSATION. Wairarapa Age, 22 August 1929, Page 5
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