The Gerling sale saga continues. A German court has upheld an earlier decision by another court that the national financial services regulator, BaFin, has no jurisdiction to block the sale of the group’s reinsurance subsidiary. That has been disputed further by BaFin, which will reportedly continue to object to the sale.

Gerling says it will now go ahead and sell the operations to a company controlled by former Gerling manager Achim Kann.