FRANKFURT - Siemens (SIEGn.DE) is optimistic it will get a payout from 250 million euros ($331.4 million) of insurance cover it took out for damages caused by senior company officials, a German newspaper reported on Sunday.
The Sueddeutsche Zeitung cited company sources at the German engineering group as saying an insurance consortium led by Allianz (ALVG.DE) was prepared to pay, though not the full amount, and that talks were under way to determine the exact sum.
Siemens and Allianz declined comment on the report.
Siemens years ago took out the policy covering actions by top executives and supervisory board members.
It now wants it to cover some of the nearly 2 billion euros in costs it incurred from a bribery scandal that cost the jobs of former Chief Executive Klaus Kleinfeld and ex-CEO and former supervisory board Chairman Heinrich von Pierer.
Von Pierer and Kleinfeld, who resigned from their posts in 2007, have not been accused of crimes and both have denied any wrongdoing.
Siemens last month agreed to pay more than $1.3 billion to settle corruption probes in the United States and Germany, ending two years of uproar that rocked the company. Siemens is also seeking compensation from former officials in the case.
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