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Allianz expects global rise in corporate insolvency, Germany follows suit

Allianz expects global rise in corporate insolvency, Germany follows suit
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Milo bogaertsAllianz trade

Study: Insolvencies pick up speed in 2024 -February 28, 2024 at 12:17 am EST

According to the credit insurer Allianz Trade, companies worldwide will face an increase in insolvencies in 2024 for the third year in a row. This trend also applies to Germany - albeit at a slower.

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Insolvencies: The number of company bankruptcies is increasing

The number of bankruptcies among German companies is expected to increase by 13 percent in 2024 compared to the previous year. Economists at the Hamburg-based Allianz subsidiary predict that this development will also affect Germany with a slight delay. The reasons for this are the persistently weak economic development, increased loan interest rates and the numerous structural challenges facing the German economy. In 2004, almost 40,000 corporate bankruptcies were registered, but in 2022 there were only 14,590. Before the outbreak of the corona pandemic, there were almost 19,000 (2019)

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German insurer Allianz says global insolvencies to grow during 2024

According to credit insurer Allianz Trade, companies worldwide will face an increase in insolvencies for the third year in a row in 2024. "This trend will also apply to Germany - albeit with a delay compared to most other European countries," predict the economists at the Hamburg-based Allianz branch. "According to the Allianz Trade Insolvency Study, the ongoing economic weakness, structural challenges and tighter financing conditions are likely to cause even more German companies to get into fi

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Global business insolvencies to rise for third year running in 2024: study

BERLIN, Feb. 28 (Xinhua) Global business insolvencies in 2024 are to rise for the third year in a row, according to a study published by credit insurer Allianz Trade on Wednesday. The total number of cases is expected to increase by 9 percent year-on-year.

United statesMilo bogaertsAylin somersan coquiOrganisation for economic cooperationAllianz tradeEconomic cooperation