Deutsche Bank and Swiss Re are set to pump €180m ($124m) into the troubled insurer Gerling.

According to reports, the deal will lead to the financial giants owning more than 90% of the group's attractive credit insurance unit.

In addition, it is believed that Deutsche Bank will give back its stake in the Gerling group for free, leaving control of the group with Rolf Gerling.

Deutsche Bank has struggled to sell its stake for years, but the deal still means it has links with many of Gerling's other customers.

The bank's problems began after Gerling reported huge reinsurance losses, exacerbated by asbestos claims and the September 11 terrorist attacks.

Deutsche Bank is understood to be putting up €120m (£83m) to take a 50% stake of the credit insurance business Gerling NCM. Swiss Re will contribute €60m (£41.5m) and give up its share options to take a similar stake.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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