• Life insurer expands on its second position in the German market increasing by 5.7 percent

AachenMünchener once again closed the business year 2008 ahead of the market. For the first time the interim figures for gross premiums written in life and property/casualty business exceeded the € 5-billion mark – the insurer earned a gross premium of € 5,137.8 million. (previous year: € 4,941.4 m), which is a growth of 3.8 percent.

“This is an extremely good result in these difficult times. It proves that our decision to transfer our sales network to Deutsche Vermögensberatung, our strategic partner of long-standing, was indeed the right one,” said Michael Westkamp, Chief Executive of AachenMünchener. “We can concentrate on our core competences: product development, sales support and customer service and also benefit enormously from the vast sales potential of Deutsche Vermögensberatung.”

Life insurance showing growth

With € 4,110.6 m the Life gross premiums written topped the € 4-billion mark for the first time in 2008 (previous year: € 3889.4 m) a plus of 5.7 percent. According to interim estimates this market will grow by approx. 0.9 percent. This growth is also caused by the Riester increase step. In 2008 the maximal subsidised Riester premium was increased from 3 to 4 percent of the annual gross income or a maximum of € 2,100 per annum. Since the beginning of 2008 customers with Riester contracts have, in addition to this, received state incentives of € 154 (previous years: € 114) and € 185 per child (previous years: € 138)

Property/casualty insurer: slight minus

Property, personal accident and liability business could once again show a growth in contrast to the market trend. However, motor business showed a slight decline. This was the result of the motor cancellation business at the end of 2007 which obviously affected the 2008 premiums. The gross premiums written in 2008 reached a total of € 1,027.2 m (previous year: € 1,052.0 m) – a minus of 2.4 percent. According to the interim estimates this line achieved a slight plus of 0.2 percent.

Aachen, February 6, 2009



About AachenMünchener:
The companies operating under the name of AachenMünchener are AachenMünchener Lebensversicherung AG and AachenMünchener Versicherung AG. With a premium volume of € 4.110,6 (2008), AachenMünchener Lebensversicherung AG is the second-largest life insurer in Germany. AachenMünchener Versicherung AG is one of the biggest German property/casualty insurers. Its 2008 premium volume amounted to € 1.027,2 m. Along with the Generali Deutschland Group, AachenMünchener is the only primary insurer in Germany that takes part in an interactive rating by all renowned international ranking agencies – and without fail receives top grades for its extraordinary financial strength. The rating agencies Standard & Poor's and Fitch Ratings evaluate AachenerMünchener with AA, Moody’s with Aa3.


AachenMünchener Lebensversicherung AG
AachenMünchener Versicherung AG

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