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Auffanggesellschaft

English translation: safety net (organisation)

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12:51 Mar 24, 2003
German to English translations [PRO]
Bus/Financial - Law (general)
German term or phrase: Auffanggesellschaft
Damit das Vertrauen der Verbraucher in die
Lebensversicherung angesichts der schweren
Krise der Aktienmärkte nicht leidet, hat die
Branche in Abstimmung mit der Bundesanstalt
für Finanzdienstleistungsaufsicht (BaFin)
eine Auffanggesellschaft für eventuell
gefährdete Gesellschaften gegründet.
Ingar A. Milnes
Local time: 06:52
English translation:safety net (organisation)
Explanation:
is what I found.

Relevant examples:

Since then, the Life Insurance Policyholders Protection Corp., the industry's safety net organization, has been looking for a company to take over the policies ...
www.jei.org/Archive/BR00/364x/364_USinJ_FinSvc.html

John Monks and Michael Clapham MP will be approaching the Association of British Insurers to press for an insurance industry safety net, and Treasury ...
www.etuc.org/tutb/uk/pdf/tuc-compensation.pdf -

Whatever form it takes, a safety net organisation should be established to pick up the Maxwells of the future to prevent pensioners falling on hard times. ...
www.parliament.the-stationery-office.co.uk/pa/ cm199293/cmhansrd/1993-07-08/Debate-3.htm

hope it helps
Selected response from:

Nicole Tata
Local time: 05:52
Grading comment
Graded automatically based on peer agreement. KudoZ.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3safety net (organisation)
Nicole Tata
5 +1"Rescue company"
sylvie malich
4recipient company
Nicole Trebbin
4back-up organizationezbounty@aol.co
4bailout company
Alexander Schleber
4trust fundgangels
1support companykatstan


  

Answers


14 mins   confidence: Answerer confidence 1/5Answerer confidence 1/5
support company


Explanation:
or interceding company

katstan
Spain
Local time: 05:52
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
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15 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
"Rescue company"


Explanation:
I found two websites so far that call it a rescue company:
The large banks are founding a rescue company ("Auffanggesellschaft") which will take over the Schmidt family's majority holding in the institution. Subsequently, the SchmidtBank will be restructured. For the time being, the bank will operate as usual. The cause of the private bank's problems is the need for a large value-correction for its subsidiary, Consors.

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Note added at 2003-03-24 13:12:05 (GMT)
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Swiss Bankers Assoc. also calls it a rescue company:

http://www.swissbanking.org/en/home/medienmitteilungen-04090...


    Reference: http://216.239.33.100/search?q=cache:5sFFExERPakC:www.mathem...
sylvie malich
Germany
Local time: 06:52
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  David Moore: Agree totally, but forget the " "s. See Schäfer, Wirtschaftswörterbuch.
4 days
  -> thanks, I will!
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17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
trust fund


Explanation:
I would say rather than re-insurance co.

gangels
Local time: 22:52
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 229
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45 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
safety net (organisation)


Explanation:
is what I found.

Relevant examples:

Since then, the Life Insurance Policyholders Protection Corp., the industry's safety net organization, has been looking for a company to take over the policies ...
www.jei.org/Archive/BR00/364x/364_USinJ_FinSvc.html

John Monks and Michael Clapham MP will be approaching the Association of British Insurers to press for an insurance industry safety net, and Treasury ...
www.etuc.org/tutb/uk/pdf/tuc-compensation.pdf -

Whatever form it takes, a safety net organisation should be established to pick up the Maxwells of the future to prevent pensioners falling on hard times. ...
www.parliament.the-stationery-office.co.uk/pa/ cm199293/cmhansrd/1993-07-08/Debate-3.htm

hope it helps

Nicole Tata
Local time: 05:52
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 12
Grading comment
Graded automatically based on peer agreement. KudoZ.

Peer comments on this answer (and responses from the answerer)
agree  Trudy Peters
3 hrs

agree  ezbounty@aol.co
5 hrs
  -> thank you

agree  Sándor Sárecz
2 days15 hrs

agree  conny
3 days19 hrs

disagree  David Moore: Sorry, but a "back-up" just isn't strong enough
4 days
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
back-up organization


Explanation:
bolster back-up

ezbounty@aol.co
Local time: 22:52
Works in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 11
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
recipient company


Explanation:
alternative: lifeboat

Hamblock/Wessels Wörterbuch Wirtschaftsenglisch

Nicole Trebbin
Germany
Local time: 06:52
Works in field
Native speaker of: Native in GermanGerman
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4 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
bailout company


Explanation:
I thionk this is the correct term.
A company that "bails out", i.e. helps tzom solve the problems of a company going bankrupt.

In the sense of "to rescue" = "bailout", according to Zahn.

Alexander Schleber
Belgium
Local time: 06:52
Specializes in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 97
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Changes made by editors
Mar 19, 2007 - Changes made by Steffen Walter:
Field (specific)(none) » Law (general)
Mar 19, 2007 - Changes made by Steffen Walter:
LevelNon-PRO » PRO


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