Stress test by financial regulator leads life insurance company into insolvency

– What are the scenarios of settlement in insurance due to low interest rates ? –   Customers of life insurers are shaken: on 16.12.2014, the business press reported that a Swiss life insurer had now filed for insolvency, and had become a victim of low interest rates. The 13,000 policies were taken over by […]

Asset management: creative financial distribution without a licence and without financial supervision

– Products and concepts for formerly licensed intermediaries, brokers, tipsters and advisors –   Investors lose up to more than €40 billion every year because they did not really understand the financial products sold to them – or were the victim of fraud. It is typical that even formerly unsuspicious competence bearers or their financial […]

Insurers and banks settle dispute over aiding and abetting tax evasion with millions in fines

– Employees and customers are still surprised by international arrest warrants –   Insurers’ and banks’ agreement with judiciary does not prevent prosecution of employees Although some banks, as well as insurers, have settled their dispute with the US judiciary by pleading guilty to criminal charges, the individual employees involved remain under investigation. No employee […]

More favourable occupational pensions without the Occupational Pensions Act (BetrAVG)

– How employers can free themselves from the constraining corset of the BetrAVG – Employers who want to set up company pensions look at the Company Pensions Act (Betriebsrentengesetz), or more precisely the Occupational Pensions Act (Betriebliches Altersversorgungsgesetz – BetrAVG). However, structuring a company pension in accordance with the BetrAVG usually suits neither the employer’s […]

Re-insurance by financial brokers and insurance brokers often without information about disadvantages

– When substitution of investments and insurance leads straight to liability –   By judgment of 24.07.2015, the OLG Cologne (Case No. 20 U 44/15) ruled that termination and sale of life insurance policies is typically associated with significant disadvantages. Since every insurance broker knows this, he has to point out the disadvantages. If the […]

Exemption from the compulsory corset of the BetrAVG

More favourable occupational pensions without the Occupational Pensions Act (BetrAVG) -How employers can free themselves from the constraining corset of the BetrAVG   Employers who want to set up company pensions look at the Company Pensions Act (Betriebsrentengesetz), or more precisely the Occupational Pensions Act (Betriebliches Altersversorgungsgesetz – BetrAVG). However, structuring a company pension in […]

BGB-Leibrenten as the better alternative to private pension insurance

In some city archives historians find records of an annuity purchase – like these. What is behind it and what does it mean for us?   Since then In the 13th century, the purchase of annuities was the predominant credit business of the Middle Ages. The future pensioner bought the right to receive a life […]

Generation consultants, succession planners and financial planners together with initiators in conflict with the Legal Services Act

For decades there has been the training as Financial-Planner (financial planner), Estate-Planner (succession planner) and for some years now as Generation Consultant with IHK certificate. Surely only the trainers will make money from this for the time being. At second glance, it is a guide to the violation of the Legal Services Act (RDG) and […]

From bank(s) and casino bets

How does case law help financial institutions to pass on miscalculations?   The regulations on the elimination of the basis of business in the German Civil Code (BGB) can be an approach to reorganize financial institutions in distress. For example, when building societies terminate the higher-interest deposits – sometimes with success. An insurer could terminate […]

Financial timetable from 50 – A review by Johannes Fiala

This is the title of a new book by finance and insurance expert Detlef Pohl. It is written for the 40+ and 50+ generations, and seeks an answer to the question What else can I do to live financially carefree in old age? As an introduction, the presentation of the statutory pension, as well as […]