Allianz Global Risks, the international arm of Allianz insurance, has not renewed an important liability contract with DaimlerChrysler, Reuters reported, citing the Financial Times Deutschland newspaper.
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“The contract in question deals mainly with risks for Chrysler in the US,” the paper reportedly quoted an insurance manager as saying. “Allianz was not prepared to include the Chrysler risks under the policy’s usual terms.”
The risks would be taken on by American International Group in the future, the paper said, according to Reuters.
