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Surprising Retreat – Economy – SZ.de

Violent shocks in the insurance consortium, which serves for the chemical industry, the care supplemental insurance care Flex: The German family insurance (DFV) in Frankfurt, one of the initiators of the system, pulls back, surprisingly, and is not for the technical implementation of responsible. The company announced on Wednesday evening.

The tariff regulated care additional insurance for 435 000 employees in the industry and is one of the largest ever agreed supplementary insurance. In the future, the insurer consortium consists solely of the R+V health insurance, Barmenia health insurance. The communication will remain as a reinsurer for the Barmenia only indirectly involved.

Debt is financial supervision. And of course Corona

The background for the embarrassing retreat of the low interest rates to the financial markets. The financial Supervisory authority, Bafin doubts that the communication can generate on the applied contribution of funds between the parties and the insurers agreed minimum interest rate of two percent. According to information from industry circles the supervision of the relatively small company wanted to allow a maximum of 1.25 per cent, as a pledge for the payment of interest.

Care Flex chemistry has been agreed upon by the employers of the chemical industry and the trade Union IG BCE to the end of 2019 and will be introduced in mid-2021. The System is financed exclusively by employers that pay per month, and employees 33,65 Euro to the insurer. In the care case, the Insured will receive between 300 and 1000 Euro in a month. A health examination, there is not.

The DFV had originally percent with a share of 35 percent in the consortium, the R+V 45 and the Barmenia 20 percent. Now the remaining two companies share the shares.

The family’s insurance company had calculated that it would take 70 million Euro in the year to contributions from care Flex. You would have had to invest more than EUR 50 million annually and therefore an interest rate of two percent – a Plan, the Bafin thought was unrealistic.

The small exchange-listed insurer, came in 2019 to 91 million euros in premium income, of which EUR 85 million from health supplementary insurance. Care Flex would have meant for the founders Stefan Knoll led company with a growth spurt of more than 50 percent. Furthermore, Knoll had hoped to sell the System to the collective bargaining parties in other industries. A consolation: From the reinsurance 40 million euros annually come to the house.

Knoll mentioned the discussions with the Bafin in the notification on the Wednesday. But he also makes the pandemic responsible. “The care Flex rate is calculated at the end of 2019 is in a Phase of economic prosperity and hung up,” he writes. Now, there have been two waves of Infection, and two lock downs. An end is not in sight. “Experts predict a third wave of Infection, and a ,herd immunity’ cannot be prior to 2022 is expected.” Against this Background, the Executive Board made the high increase in the volume of investment to be too risky. Knoll also said that the DFV 2021 will again show a loss, as of 2018, 2019 and 2020.

Jerry Rolon
Jerry Rolonhttps://etrendystock.com/
After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

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