{"id":17690,"date":"2012-05-13T09:12:51","date_gmt":"2012-05-13T07:12:51","guid":{"rendered":"https:\/\/fiala.de\/recoveries-for-life-insurers\/"},"modified":"2012-05-13T09:12:51","modified_gmt":"2012-05-13T07:12:51","slug":"recoveries-for-life-insurers","status":"publish","type":"post","link":"https:\/\/www.fiala.de\/en\/recoveries-for-life-insurers\/","title":{"rendered":"Recoveries for life insurers"},"content":{"rendered":"<h2 style=\"text-align: left;line-height: normal\"><span style=\"color: black\"> <\/span><b>More promotional loans committed<\/b><\/h2>\n\n<p style=\"text-align: left;line-height: 15.3pt;margin: 0cm 11.25pt 6.8pt 0cm\">The business development of Landwirtschaftliche Rentenbank, Frankfurt am Main, was characterized by brisk new business and a normalization of the earnings situation in the first half of 2010; in particular, the low-interest program loans again provided strong growth impulses.<\/p>\n<p style=\"text-align: left;line-height: 15.3pt;margin: 0cm 11.25pt 6.8pt 0cm\">Including general promotional loans and securitised financing, total new business in the first half of 2010 rose by almost 28 % year-on-year to 7.8 billion.<\/p>\n<p style=\"text-align: left;line-height: 15.3pt;margin: 0cm 11.25pt 6.8pt 0cm\">The volume of funding on the balance sheet reached 67.4 billion at the end of June, up 2.4% on the end of 2009. Total assets expanded by 8.0 % to 81.9 billion by the end of 2010.<\/p>\n<h3><\/h3>\n<h3><b>Recoveries for life insurers<\/b><\/h3>\n<p style=\"text-align: left;line-height: 15.3pt;margin: 0cm 11.25pt 6.8pt 0cm\">A ruling of the Cologne Higher Regional Court of 5 February 2010 (Case No. <a href=\"https:\/\/dejure.org\/dienste\/vernetzung\/rechtsprechung?Text=20%20U%2080\/08\" title=\"20 U 80\/08 (3 zugeordnete Entscheidungen)\" rel=\"nofollow noopener\" target=\"_blank\" class=\"external\">20 U 80\/08<\/a>) establishes that life insurers have so far incorrectly implemented the BGH rulings on the minimum surrender value and on the invalidity of the cancellation deduction in their favour.<\/p>\n<p style=\"text-align: left;line-height: 15.3pt;margin: 0cm 11.25pt 6.8pt 0cm\">In an impressive and particularly clear manner, the ruling shows that customers are entitled to billions more in recoveries from contracts concluded from 1995 to mid-200 I and terminated or non-contributory in the meantime or in the future on the basis of the relevant BGH rulings.<\/p>\n<p style=\"text-align: left;line-height: 15.3pt;margin: 0cm 11.25pt 6.8pt 0cm\">The Cologne Higher Regional Court thus confirms the view of consumer protection, lawyers and actuarial experts on the calculation of minimum surrender values and the inadmissibility of lapse deductions, which had previously been disputed by insurers. More than 10 million customers are affected.<\/p>\n<p style=\"margin-bottom: 13.6pt;text-align: left\"><span style=\"color: black\"> <\/span><\/p>\n<p><span style=\"color: black\">by Dr. Johannes Fiala<\/span><\/p>\n\n<p>by courtesy of<\/p>\n<p><a href=\"http:\/\/www.vdl.de\" class=\"external\" rel=\"nofollow\">www.vdl.de<\/a> (published in VDL Journal 06\/2010, page 33)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More promotional loans committed The business development of Landwirtschaftliche Rentenbank, Frankfurt am Main, was characterized by brisk new business and a normalization of the earnings situation in the first half of 2010; in particular, the low-interest program loans again provided strong growth impulses. Including general promotional loans and securitised financing, total new business in the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","rank_math_focus_keyword":"","rank_math_description":"","rank_math_title":""},"categories":[492],"tags":[556],"class_list":["post-17690","post","type-post","status-publish","format-standard","hentry","category-veroeffentlichungen-en","tag-verbraucherschutz-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/posts\/17690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/comments?post=17690"}],"version-history":[{"count":0,"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/posts\/17690\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/media?parent=17690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/categories?post=17690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiala.de\/en\/wp-json\/wp\/v2\/tags?post=17690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}