Allianz vs HUK-COBURG

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.

HUK-Coburg Retains OMD as Media Agency After Competitive Review

German insurance group HUK-Coburg has concluded its highly anticipated media review, deciding to retain its long-term incumbent agency, OMD Munich. OMD has managed the account since first winning it in 2014. The decision secures an estimated €50 million media budget for Omnicom Media Group, which saw HUK-Coburg spend approximately €52 million gross in 2025 (with €37 million dedicated to linear TV). This retention represents a key stabilizing win for Omnicom during a period of massive structural changes. Following Omnicom's global acquisition of IPG, the group is undergoing a major reorganization in Germany, which includes the creation of the new agency Hearts United and several high-profile C-level executive moves under newly appointed OMD CEO Jan Wilczewski.

• HUK-Coburg has retained OMD Munich as its media agency of record following a competitive pitch.
• OMD has held the advertising mandate for the insurer since 2014.
• HUK-Coburg's gross media budget was €52 million in 2025, with €37 million spent on linear TV advertising.