The broadcast sets forth the insidious role of the Munich Reinsurance Company in providing intelligence to German U-boats during World War II. Because of the enormous cost of underwriting international maritime commerce, American insurance companies reinsured with the Zurich group.
The Zurich group, in turn, reinsured with the Munich group.
This arrangement placed detailed information about the sailing of U.S. merchant ships in the hands of the German navy, permitting U-boats to torpedo and sink American vessels within sight of shore. The loss of life among merchant sailors traversing the North Atlantic during the war was roughly one in three. (more...)
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