By the Act amending the
Insurance Supervision Law of 15 December 2004 (Versicherungsaufsichtsgesetz vom 15. Dezember 2004) the legislator legally prescribed the establishment of a guarantee fund for German life insurers. This guarantee fund is intended to protect the rights of policyholders, insured parties, beneficiaries and other parties entitled to receive payments under the life insurance contract.
By a statutory regulation („Beleihungs-Rechtsverordnung” (Appointment Regulation)) the Federal Ministry of Finance has entrusted the Protektor Lebensversicherungs-AG with the tasks and powers of the Guarantee Fund for life insurers. Protektor Lebensversicherungs-AG which was initially established as a voluntary rescue company has amended its statutes accordingly.
The Guarantee Fund draws up an annual report. All assets related to the Guarantee Fund are strictly separated from the other assets of Protektor Lebensversicherungs-AG.