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Satisfied Life Insurers

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Satisfied Life Insurers. Low-interest rates are a challenge for life insurers. Nevertheless, the industry drew a positive balance for 2019. Critics believe that the burdens of the difficult environment are unilaterally passed on to the insured.

Many insured people must have rubbed their eyes when the General Association of the German Insurance Industry (GDV) took stock at the annual media conference in Berlin. Insurers were able to look forward to a strong increase in premium income in 2019, and even the life insurance companies that have already been declared dead seem to be celebrating a comeback. This is all the more astonishing since consumer advocates and the Association of Insureds (BdV) have been attacking life insurers for a long time. Because of the persistently low-interest-rate level, critics see classic life insurance as being phased out. How does this critical prediction fit together with a positive balance?

Satisfied Life Insurers

Data from the GDV balance sheet for 2019:

-Life insurers, pension funds and pension funds took in 102.5 billion euros. That is a premium increase of 11.3 percent compared to the previous year.


-In the area of ​​company pension schemes, gross premium income rose by 5.3 percent.


-There was a particularly large increase (an increase of more than 37 percent) in contracts with a single premium.


-Customers are increasingly accepting- New products in the life insurance sector. The proportion of contracts with a modified guarantee grew to more than 60 percent in 2019.

Satisfied faces at the insurance companies

It is not surprising that the industry looks back on the past year with a satisfied mine. The representatives of the GDV see the excellent result as a clear vote of confidence from the insured. However, there is no reason for euphoria, as the representatives emphasize. The market environment with low-interest rates is proving to be an extreme challenge.

Association of the insured speaks of legal fraud

Axel Kleinlein, spokesman for the BdV, does not deny that the environment is difficult for insurers. However, his balance sheet looks completely different: The bonuses have reached historic lows. Many insurers got rid of their old supply contracts. Millions of contracts have been bought up by investment companies that primarily focus on the return on investment.


The BdV also recognizes that the burdens increase due to higher reserves. However, it should not be the case that the insured are fobbed off with measly profit sharing and the shareholders receive increasing dividends.

Satisfied Life Insurers

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