Frankfurter Leben Group takes over the insurance portfolio of Landeslebenhilfe

5 September 2023

It is already the sixth takeover of an insurance portfolio and the second transaction this year for the Frankfurt-based company. The insurance portfolio taken over comprises around 11,000 insurance contracts and a total of around 150 million euros in investments.

The Frankfurter Leben Group will take over the insurance portfolio of Landeslebenhilfe and thus expand its platform to six insurance portfolios. The transfer of the portfolio to Frankfurter Lebensversicherung AG is subject to the approval of the general meeting of members of the LLH and the approval of the BaFin.

With this transaction, the Frankfurter Leben Group can further strengthen its role as a specialized consolidation platform in the field of life insurance and old-age provision products in Germany. This is the sixth takeover of an insurance portfolio and the second transaction in 2023 for the Frankfurter Leben Group. The insurance portfolio taken over comprises around 11,000 insurance contracts and a total of around 150 million euros in investments. The takeover will not change anything for the customers of Landeslebenhilfe. The insurance contracts will continue unchanged.

In May, the Frankfurter Leben Group acquired a significantly larger company portfolio with Generali Deutschland Pensionskasse AG. The transaction comprised around 150,000 insurance contracts and a total of around EUR 2.8 billion in investments.

This move comes as no surprise. The main trends in the business development of life insurers, pension funds and pension funds in 2022 can be summarized as follows: If you look at the life insurers including the pension funds and pension funds, the company pension scheme will also have a high share of the total result of the premium income of the life insurers in 2022. Overall, the share of occupational pensions in the overall result has continued to rise. Direct and reinsurance policies make a significant contribution to this. They form the focus of the new business of bAV. In contrast, the share of pension funds in new business has continued to decline sharply at a low level. Inventory and contributions are also declining. The Bafin is still keeping a close eye on the situation at the pension funds.

Source: dpn
Multiple reports with cicle diagram and text

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