• New business in terms of regular premiums above market average - strong market position consolidated as Germany's second-largest life insurer
  • Best technical result in AachenMünchener's history
  • Market-share gains in property and casualty business

Aachen - In the business year 2012, AachenMünchener continued its successful development. In life insurance business in terms of regular premiums AachenMünchener was stronger than the market average. In property and casualty insurance the company was able to gain further market shares. All in all, AachenMünchener achieved a premium income (gross premiums written) of € 5,655 m in 2012, which equals a growth of 2.3% compared to 2011. In this context, AachenMünchener benefited once again from the extraordinary distribution strength of its strategic partner Deutsche Vermögensberatung Group. Innovative products in life and property and casualty insurance also played a significant role in the development. The net annual profit of AachenMünchener Lebensversicherung AG and AachenMünchener Versicherung AG rose by € 123.0 m as a whole in 2012, which is an increase of 8.3% compared to 2011.

Strong market position consolidated and expanded
As a whole, AachenMünchener achieved a better development than the market average in life and property and casualty insurance. In 2012, AachenMünchener Lebensversicherung increased by 2.7% in the new business in terms of regular premiums. The insurance industry, however, had to record a decline. AachenMünchener thus consolidated its strong market position as Germany's second-largest life insurer in terms of regular premiums.
Property and casualty insurance played a significant part in the positive business development in 2012. The premium income of AachenMünchener Versicherung grew by 9.8%, while the market was up by 3.7% only. The combined ratio remained at the very good level of 90.2%.
"The development in 2012 was extraordinarily positive despite difficult market conditions", says Michael Westkamp, CEO of AachenMünchener. "AachenMünchener was able to markedly increase the premium income as well as the profitability once again. We owe this success to the outstanding distribution strength of our longstanding strategic partner Deutsche Vermögensberatung Group. Our customers benefit from the strong advisory capacity of the more than 37,000 financial advisors as well as from our first-class service and strong products."

Growth in property and casualty again above the market average
Property and casualty business saw a markedly positive development like in 2011. As a whole, AachenMünchener Versicherung achieved a gross premium income of € 1,174.2 m, which is an increase of 9.8% (in 2011: € 1,069.9 m). Growth in the market was merely 3.7%.
Premiums in the lines of property, personal accident and general liability business rose by 10.3% to € 728.1 m (in 2011: € 659.9 m). Premium growth is based, amongst others, on the sales success of the VERMÖGENSSICHERUNGSPOLICE, a combination of householders, accident, glass, liability as well as optional homeowners and legal expenses covers. This product was improved once again in 2012. Around half a million customers of AachenMünchener used the product. "With this offer the belongings of our customers are safe without any limitation on the amount. The private cover makes this product one of the best and attractive combined products in the German insurance market", states Ulrich Rieger, member of AachenMünchener's Board of Management in charge of property and casualty insurance.

Strong increase in motor business
Motor insurance business also saw a successful development. In 2012, premiums rose by 8.8% to € 446.1 m (in 2011: € 410.0 m) due to the positive development in the so-called motor cancellation business at the turn of the year 2011/2012 and the improved new business compared to last year. The new product YOUNG & DRIVE for young people also contributed to the positive development in the motor business in 2012. YOUNG & DRIVE allows young drivers between 18 and 23 years old to operate the vehicles of their family insured with AachenMünchener at an attractive fixed rate.

Best technical result ever
Aside from growth above market average AachenMünchener also continued to improve its technical results. The gross combined ratio of direct insurance business of 90.2% outstripped the previous year's already excellent level (in 2011: 93.8%). Thus AachenMünchener Versicherung again achieved a much better result than the market (the market expects a combined ratio of 98%). The gross technical result rose by 11.5% to € 78.3 m (in 2011: € 70.2 m) - the best result in the history of AachenMünchener.

Life insurance: new business in terms of regular premiums has a stronger growth than the market
In 2012, gross premiums written of AachenMünchener Lebensversicherung AG increased by 0.5% to € 4,476.7 m (in 2011: € 4,453.4 m). New business in terms of regular premiums rose by 2.7% to € 378.4 m (in 2011: € 368.3 m). The sale of the product VERMÖGENSAUFBAU & SICHERHEITSPLANS launched in the end of 2011 significantly contributed to the good new business of AachenMünchener. In life insurance the new product has achieved a new business share of roughly 23%. "It offers an optimal combination of risk covering and provision and fully meets our customers' requirements with its flexibility to build up security and return-oriented assets", says Peter Heise, member of the Board of Management of AachenMünchener in charge of life insurance.
In 2012, single premiums of AachenMünchener decreased by 2.0% to € 747.2 m (in 2011: € 762.6 m).

Stable investment and attractive profit bonus again
AachenMünchener proved to be a partner for its clients with financial security and strength. Despite the current low interest rate and the persistent financial crisis, the customers of AachenMünchener received a profit bonus of 3.75% and a terminal bonus of approx. 0.4% which lead to an overall return of 4.15% for 2013. The net return in life insurance (without unit-linked products) increased to 4.0% (in 2011: 3.4%) at December 31, 2012.
In 2012, the investment volume in life insurance amounted to € 32.0 bn (in 2011: € 29.3 bn). Without the share attributable to unit-linked life and pension insurance, the investment volume increased by 4.7% to € 20.9 bn (in 2011: € 20.0 bn). The net investment income - without unit-linked life insurance - rose by 22.9% to € 820.6 m (in 2011: € 667.9 m). In 2012 AachenMünchener allocated € 204.7 m to the provisions for the customers' profit bonuses (in 2011: € 193.3 m). In addition, by means of profit bonuses directly credited to the sums insured under life policies, another € 289.5 m were allocated to the customers, 11.2% more than in the previous year (in 2011: € 251.0 m).

About AachenMünchener:
The name AachenMünchener stands for two companies: AachenMünchener Lebensversicherung AG and AachenMünchener Versicherung AG. AachenMünchener Lebensversicherung AG has a premium income of € 4,476.7 m (2012) and is thus the second-largest life insurer in the German market in terms of regular premiums. AachenMünchener Versicherung AG is one of the biggest property and casualty insurers in Germany. Its 2012 premium income was € 1,174.2 m. More than 2,300 employees at six locations in Germany provide a first-class service to approx. 4.4 m customers. AachenMünchener sees itself as a forward-thinking, experienced, stable, helpful and fair company. Their products offer customers insurance covers and solutions for provision with a unique selling proposition and regularly achieve best marks. More than 37,000 financial advisors of the Deutsche Vermögensberatung AG (DVAG) sell the products of AachenMünchener.

Contact AachenMünchener Lebensversicherung AG
AachenMünchener Versicherung AG

Jörg Linder
Press Officer
AachenMünchener-Platz 1
52064 Aachen

Phone: +49 (0) 241 456-5664
Fax: +49 (0) 241 456-5414
E-Mail: medien@amv.de
http://www.amv.de
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