By Gerald D. Feldman
Gerald Feldman's heritage of the the world over widespread assurance company Allianz AG within the Nazi period relies mostly on new or formerly unavailable archival assets, making this a extra exact account of Allianz and the lads who directed its company than used to be ever prior to attainable. Feldman takes the reader via diversified 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 compelled hard work camps, and the issues of denazification and restitution. the wider concerns tested during this study--when cooperation with Nazi regulations used to be obligatory and while it was once complicit, the best way revenue, ideology, and opportunism performed a job in company selection making, and the query of ways Jewish assurance resources have been expropriated--are fairly proper this present day given the continuing overseas debate approximately restitution for Holocaust survivors. This publication joins a transforming into physique of scholarship in keeping with open entry to the files of German businesses within the Nazi period. Gerald D. Feldman is Professor of heritage on the college of California at Berkeley. His e-book, the good affliction (Oxford, 1993) bought the DAAD publication Prize of the German old organization and the ebook Prize for imperative eu heritage from the yankee historic organization. He was once 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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Extra resources for Allianz and the German Insurance Business, 1933-1945
Mittermann of the Austrian Großdeutsche Volkspartei to Rudolf Schmidt of Munich Re. Mittermann complained that he had taken out a policy with the Austrian Janus company, which he thought had “an Aryan foundation,” only to find that it had a Jew on its administrative board representing Munich Re. Schmidt replied on June 18, assuring Mittermann that Janus (Allgemeine Versicherungsanstalt a. G. in Wien) was indeed an “Aryan institute” and that it was the Munich Re alone that was exercising its right to name a member of the board and that Janus had not the “slightest influence” in this regard.
Nevertheless, many companies continued to draw up such policies, accepting RM premiums and using RM as backing. Schmitt felt very strongly that such practices were dangerous and urged the bankers on his supervisory board to persuade other insurance companies with whom they were associated to abandon them. 21 As was the case throughout the financial sector after the inflation, Allianz engaged in large-scale staff reductions now that the immense amount of paperwork entailed by inflation could be reduced.
Eichbaum, a Jew, remained as head of Wilhelma, while Schloeßmann was made general director of Allianz Leben and joined Schmitt, Heß, and Hilgard to form a quartet of directors that was to dominate the affairs of Allianz in the years to come. 19 The security of life insurance assets and investments were matters of great concern in these years. Inflation and then hyperinflation led to a combination of increasing policyholder underinsurance and rising costs for insurers. By 1922– 1923, old policies were worthless, and efforts to keep up with inflation through the revision of premiums and values on policies proved hopeless.