Allianz vs Commerzbank

EY Wins BMW Audit Mandate Starting 2029

The article reports that EY has won the prestigious audit mandate for BMW, effective from 2029. This marks the second major DAX mandate for the former Wirecard auditor after its ban expired, following a similar win at Allianz. The content is paywalled, so only limited details are available. The news is significant for the professional services industry, indicating EY's comeback in the German market. However, detailed information about the contract terms, duration, or implications for other auditors is not provided due to the paywall.

German Companies Lack Transparency in AI-Based Hiring

A study by HR software provider Lucca reveals that many large German employers are not transparent about their use of artificial intelligence in recruitment processes. The 'KI-Transparenz-Index' (AI Transparency Index) examined the 25 largest German employers, scoring them on legal transparency in privacy policies, disclosure of AI usage during applications, recruiting software transparency, and company-wide AI governance. Allianz scored highest with 26 points, followed by Deutsche Telekom and SAP with 20 points each. Aldi Nord ranked last with just one point, and Siemens Energy scored five points. Although 21 of the 25 companies use software that could support AI features, only four (Bayer, SAP, Allianz, and Siemens) openly communicate this. Lucca recommends applicants review privacy policies for AI-related terms and suggests adapting applications with keywords to optimize for AI screening.

• Lucca's AI Transparency Index analyzed the 25 largest German employers.
• Allianz scored highest with 26 points; Aldi Nord scored lowest with 1 point.
• 21 of 25 companies use recruiting software with potential AI capabilities.

Trade Republic Found Own Life Insurer for Retirement

Trade Republic, the Berlin-based neobroker, has established its own life insurer, Justinian Versicherungs AG, in Vaduz, Liechtenstein, after receiving a license from the local regulator FMA. The license covers traditional and unit-linked life insurance. This strategic move enables Trade Republic to offer a guaranteed version of the upcoming state-subsidized retirement savings account (Altersvorsorgedepot) in Germany, which will replace the Riester pension from 2027. The guaranteed version may incur a fee, unlike previously announced free variants. This expansion positions Trade Republic against traditional insurers like Allianz and Ergo, targeting security-conscious savers, while rival Scalable Capital avoids guarantees. Trade Republic reported €754 million in revenue for its 2024/25 fiscal year and a valuation of €12.5 billion, serving over 10 million customers.

• Trade Republic founded Justinian Versicherungs AG in Vaduz, Liechtenstein, and received a life insurance license from the FMA, covering traditional and unit-linked life insurance.
• The insurer enables Trade Republic to potentially offer a guaranteed version of the Altersvorsorgedepot, with returns of at least 80-100% of contributions, though it may carry a fee.
• The Altersvorsorgedepot is scheduled to launch in early 2027 as the successor to the Riester pension.

E-Commerce Player niceshops Prepares for IPO on Vienna Stock Exchange

Austrian e-commerce company niceshops is preparing for an initial public offering (IPO) on the Vienna Stock Exchange (Wiener Börse). Following a successful post-2022 restructuring process that reduced liabilities by 30 million Euros, the company reported H1 2026 revenues of 97.3 million Euros, representing a 23.6% year-on-year growth, and aims to reach 200 million Euros in annual revenue. Management outlines the key benefits of an IPO as access to growth capital, standardized valuation, robust governance, and a sustainable ownership structure. Additionally, Eurozone inflation rose to 3.3% in August, signaling a highly likely interest rate hike to 2.5% by the European Central Bank (ECB) to curb energy-driven price pressures.

• niceshops achieved 97.3 million Euros in revenue for H1 2026, marking a 23.6% increase compared to H1 2025.
• The e-commerce firm reduced its liabilities by 30 million Euros during a restructuring phase that concluded successfully in 2026.
• niceshops operates approximately 30 online shop brands across 18 languages and exports to about 80 countries.

Everphone secures €15 million refinancing for device leasing

Berlin-based Device-as-a-Service (DaaS) provider Everphone secured €15 million in refinancing from Commerzbank and KfW to finance new workplace devices for corporate clients under long-term leases. The financing follows a €270 million Series D in 2024 and is part of a strategy to improve unit economics by reducing financing costs. The new structure lowers the interest margin by 20 basis points, enabling larger purchase volumes at lower unit costs. Everphone serves over 1,000 organizations, including DAX-listed companies, and offers managed services like MDM and mobile threat defense. This deal highlights the growing trend of device-as-a-service models in Europe, with similar financings for Raylo and equipal in 2026.

• Everphone secured €15 million in refinancing from Commerzbank and KfW.
• The financing is intended to finance new workplace devices for corporate customers under long-term leases.
• The new structure reduces the interest margin by 20 basis points compared to previous financing.

Douglas expands Carat partnership to all European markets

Following a pitch, the Douglas Group is expanding its existing partnership with Carat in the DACH region to all European markets. The new cooperation will start on January 1, 2027. Carat will take over strategic and operational media management for all 20 European Douglas markets, including France, Italy, the Netherlands, Poland, the Czech Republic, Hungary, Lithuania, Romania, Slovenia, and Spain. The goal is to strengthen the balance between international brand leadership and local market relevance, and to improve the effectiveness and efficiency of media investments across all markets. Rik Strubel, CMO of Douglas Group, said they aim to increase the impact of their media investments. Katja Anette Brandt, CEO Germany & Media Practice President Central Europe at dentsu, expressed pride in winning the pitch. The pitch combined expertise in strategy, media, data, commerce, and transformation. This win helps offset the recent loss of the Commerzbank media account to Deep Media.

• The Douglas Group expands its partnership with Carat to all 20 European markets.
• The new mandate starts on January 1, 2027, following a pitch.
• Carat will handle strategic and operational media management for Douglas across Europe.