expands to: The count of bAV agreements reaches 16.38 million.
In a notable development for the German life insurance industry, the number of bAV contracts, or occupational pension provision contracts, managed by life insurers has surpassed 16 million. According to the latest report from the GDV, "Life Insurance in Figures," this increase suggests a rising trend in occupational pension provision in Germany.
The growth trajectory in bAV contracts is a significant development, with life insurers handling a substantial portion of these contracts. bAV accounts for 19.0 percent of all contracts handled by life insurers, pension funds, and pension funds, indicating a crucial role in the sector.
Last year, the number of bAV contracts managed by Germany's life insurers increased by 0.8 percent to 16.38 million. This growth is particularly noteworthy when considering the annual running contribution for direct insurances amounts to 8.3 billion euros, with the annual running contribution for funding amounting to 4.8 billion euros.
The increase in bAV contracts represents growth in the occupational pension provision sector managed by Germany's life insurers. Notably, the largest achievements in the area of occupational pension schemes (bAV) are attributed to providers like Allianz, DEVK, Ergo, Generali Deutschland, and HUK-COBURG. The stock of direct insurance contracts grew by 10% over five years, indicating significant growth in recent years.
The report also reveals that the number of direct insurances increased by 0.9 percent to approximately 8.6 million contracts between January and December 2020. Life insurers currently manage 3.6 million contracts for funding, which represents an increase of 1.8 percent.
As an industry association, the GDV provides valuable insights and reports about the German life insurance industry. Their latest publication, "Life Insurance in Figures," reports this increase in bAV contracts, offering a comprehensive overview of the current state of the industry.
In conclusion, the growth in bAV contracts managed by Germany's life insurers is a significant development in the German life insurance industry, indicating a rising trend in occupational pension provision. The report from the GDV, "Life Insurance in Figures," provides valuable insights into this development and the overall state of the industry.
