GERMANIA INSURANCE UNDERGOES WORKFORCE REDUCTION

  

Germania Insurance has announced a companywide workforce reduction of 7 percent.

The company, which is headquartered in Brenham, said in a press release on Thursday that the decision was due to “challenges resulting from extreme weather volatility, inflation, the rising cost of claims, and the increased reinsurance costs experienced throughout the insurance industry.”

According to the release, the workforce reduction was across all categories and at all levels.  All affected personnel were notified directly and provided severance packages based on salary, position and years of service.

When asked how many Brenham employees were impacted as a result of the decision, a spokesperson for Germania said 35 team members were affected. 

Germania President and CEO Brandon Keller said while extensive actions have been taken to improve Germania’s financial position, the actions will take time to manifest.  He said the workforce reduction is “part of our ongoing goal to enhance our operational efficiency and reduce overall expenses to strengthen Germania long term.”

Keller said, “We value the contributions of our team members and deeply regret the need for this action.”