Niskie stopy procentowe a ubezpieczenia na życie z ubezpieczeniowym funduszem kapitałowym na rynku niemieckim
Low interest rates and life insurance with equity insurance fund on German market

Summary/Abstract: Low interest rates have led to a situation in which some investment products have become largely unprofitable (or less profitable) than they were a few years ago. An example of such an investment product is life insurance from an insurance fund on the German market. The guarantee of capital protection on the one hand and the guaranteed rate of return on the other hand, have led to the situation where such a product for insurers becomes problematic. The entire risk of the investment lies with the insurer, and therefore changing the current portfolio to riskier but also higher returns is in some cases inadvisable. In particular, most life insurance clients with an insurance capital fund prefer capital guarantees with higher return rates. Solvency II, which has been in operation since the beginning of 2016, seeks to define certain types of guidelines and standards for insurers so that asset investments “stick” in the computable framework. In the current situation, it is difficult to determine the impact on the insurance market, but it can be argued that both current clients and insurers should consider alternatives to investment in capital or agree to increase the risk in the investment.

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