1929: A Shock- The Burning of the “Europa”
The year 1929 brings a bitter blow for all the insurance companies.
The gigantic steamer “Europa,” just completed in the shipyard of Blohm and Voss, is almost completely destroyed by fire on March 29th.
Mund & Fester must pay 5,200,000 Reichsmark for their part of the coverage alone. This remains the highest pay-out in the history of the firm.