1. IX International Yalta Finance Forum 14th – 18th September 2009, Yalta The Role of German Life Insurers in the German Pension System Volker Henke German Insurance Association – GDV, Berlin

2. Policies 2008 Life Insurance 92.8 mn
Supplementary policies mn (for example occupational disability, accident)
Pension funds / Pensionskassen mn
For Reference:
Population in Germany 82 mn

3. Protection through life insurance
Insured amount per resident (portfolio)
Total life insurance
,790 €
,310 €
Capital accumulation contracts
,900 €
,060 €

4. Payments to insured persons 2007
Mandatory Pensions bn €
Life insurance bn € (2008: 72 bn €)

5. Financial assets of private households 2008
Total 4,413 bn €
of this
with insurance companies 1,263 bn € (28.6 %)
- of this life companies bn € (16.2 %)

6. Gross premiums written and benefits paid in Euro millions

7. New business, premiums in EURO billions

8. New business by type of insurance endowment insurance, annuity insurance and unit-linked life insurance, number of contracts in % *)
*) up to 2000 including unit-linked annuity insurance
Werte:
endowment insurance 93, , , , , , , , , , , ,10% 23,90% 19,02% 18,02
annuity insurance 3, , , , , , , , , , , ,90% 47,50% 44,16% 40,86
unit-linked endowment insurance 2, , , , , , , , , , , ,10% 5,50% 4,91% 5,19
unit-linked annuity insurance , , , , ,90% 23,10% 31,90% 35,93

9. Life insurance*: Gross premiums written broken down by type of business in 2008
Total: 76.3 bn €
21.2 bn. €
9.8 bn. €
5,1
5.5 bn. €
5,1
11.5 bn. €
9,1
9.1
28.3 bn. €
Source: GDV
*without pension funds / staff pension insurance

10. Financial crisis and life insurance in Germany
No liquidity problems for life insurers
Safe investments (shares less than 5 % of the portfolio)
Share of ABS-products in the investment portfolio was only 1.5 % at the end of 2008
Net interest 3.6 % in 2008 (- 1 %-point)
But due to buffers the profits allocated for the clients could be kept almost stable