An act of 15 December 2004 amending the Insurance Supervision Law (in German language) bindingly prescribed that a protection fund would be set up to safeguard German life insurance policies.
This protection fund is designed to protect the claims of policyholders, the people insured, the beneficiaries and other people benefiting from the life insurance policy.
The Federal Ministry of Finance issued a decree (Assignment Decree (in German language)) entrusting Protektor Lebensversicherungs-AG with the tasks and powers of a insurance guarantee fund for life insurance companies. Protektor Lebensversicherungs-AG, originally founded as a voluntary rescue company, adapted its statutes (in German language) accordingly.
The insurance guarantee fund compiles an annual report. All the assets related to the fund are strictly managed separately from the remaining assets belonging to Protektor Lebensversicherungs-AG.