German Ministry of Finance paves way for RT1 debt

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By Frank Jackman
12 Oct 2020

The German Ministry of Finance has paved the way for future restricted tier one issuance (RT1) from the country’s insurance sector. Among those now able to tap the instrument is Allianz, which analysts believe could enter the market next year.

The German Insurance Association (GDV) circulated a statement on behalf of the Ministry of Finance last Thursday clarifying to insurers that RT1 coupon payments issued according to the GDV model are tax-deductible.

“This had to come at some point, and it’s taken a long time given how other ...

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