{"id":42,"date":"2015-03-17T12:27:27","date_gmt":"2015-03-17T11:27:27","guid":{"rendered":"https:\/\/www.protektor-ag.de\/de\/?page_id=42"},"modified":"2023-06-23T12:35:15","modified_gmt":"2023-06-23T10:35:15","slug":"financing","status":"publish","type":"page","link":"https:\/\/www.protektor-ag.de\/en\/guarantee-fund\/financing","title":{"rendered":"Financing the insurance guarantee fund"},"content":{"rendered":"<p>The insurance guarantee fund financing is designed to continue the insurance coverage. The fund is financed by the members\u2019 annual fees. At most, this is equal to 0.2\u2030 of the German life insurance companies\u2019 net technical reserves until a sum of 1\u2030 of the net technical reserves has been reached (as of 12\/2022: approx. \u20ac 1.2 billion). In 2010, the insurance guarantee fund\u2019s capital was accumulated in full. It is adapted every year to the insurance companies\u2019 net technical reserves.<\/p>\n<p>If the insurance guarantee fund is required to rehabilitate the insurance portfolio of a life insurance company that is in trouble, aditional payments can be levied. This requires the Federal Financial Supervisory Authority (Bafin) to order a transfer of the insurance portfolio to the insurance guarantee fund (<a href=\"https:\/\/www.protektor-ag.de\/de\/wp-content\/uploads\/sites\/2\/2020\/12\/INTERNETDOKUMENT_VAG_29.12.2020.pdf\">Section 222, Subs 2 <small>(in German language)<\/small><\/a> of the Law on the Supervision of Insurance Undertakings (VAG)). The Federal Ministry of Finance has passed a directive with detailed regulations on the financing of the insurance guarantee fund (\u201e<a href=\"https:\/\/www.protektor-ag.de\/de\/wp-content\/uploads\/sites\/2\/2015\/07\/SichLVFinV-Regelungen_zum_Sicherungsfonds.pdf\">Sicherungs-Finanzierungs-Verordnung (Leben), or SichLVFinV <small>(in German language)<\/small><\/a>\u201c).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The insurance guarantee fund financing is designed to continue the insurance coverage. The fund is financed by the members\u2019 annual fees. At most, this is equal to 0.2\u2030 of the German life insurance companies\u2019 net technical reserves until a sum of 1\u2030 of the net technical reserves has been reached&nbsp;&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":12,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","meta":{"_trash_the_other_posts":false,"editor_notices":[],"footnotes":""},"class_list":["post-42","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financing the insurance guarantee fund - Protektor Lebensversicherungs-AG<\/title>\n<meta name=\"description\" content=\"Financing the protection fund: The protection fund is financed by the members\u2018 annual fee.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.protektor-ag.de\/en\/guarantee-fund\/financing\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financing the insurance guarantee fund - 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