Lufthansa merges captive insurance unitsReprints
German airline Deutsche Lufthansa A.G. has merged its local captive insurance units Delvag Ruckversicherungs A.G. (Delvag Ruck) and Delvag Luftfahrtversicherungs A.G. (Delvag), effective March 7, Captive Insurance Times reports. The merged company, Delvag Versicherungs A.G., will be based in Cologne. The former Delvag Ruck staff will continue to write reinsurance business after the merger. "With the merger of Delvag Ruck and Delvag, we are bundling our competencies in the areas of direct insurance and reinsurance," said an official.