Although the financial situation of German life insurers has stabilized, leaving traces of the crisis. Some companies even left the life insurance business.
The life insurance industry suffers from low interest rates. Since most companies have already withdrawn many years ago from the uncertain equity business, stock market gains hardly play a role. To the chagrin of the insurers are close to new risk conditions of the legislature, the financial margins further.
The Germans have hedged almost 450 million insurance contracts against the vicissitudes of life. In any residents - from infants to the elderly - eliminating the need for about six policies. Total premium income of the GDV-member companies - representing over 95 per cent of the market - are currently at about 171 billion euros. This compares to a total of 133 billion euros, which the insurers paid out directly to customers or incurred for any damage caused.
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