Athora Leben sets profit participation at 4.0 percent total interest rate for third straight year
Wiesbaden, Germany, November 25, 2022 - Athora Lebensversicherung AG (“Athora Leben”) today confirmed that its profit participation for life insurance will remain stable for a third consecutive year with a total interest rate of 4.0 percent for 2023.
The Athora Leben total rate is more than double the 2022 market average current interest rate (1.99 percent) for classic life insurance contracts and consists of a 3.0 percent current interest rate and 1.0 percent terminal bonus.
Claudius Vievers CEO Insurance Operations at Athora Leben said “This is the third year in a row that Athora Leben has been able to keep our rate stable. That is because of the unique strength of our business model and our total focus on sustained, long-term delivery. We are leading an increasingly competitive market in Germany by staying true to our strategic aim of creating sustained value for our customers.”
Since 2018, Athora Holding Ltd. (the Group) has been implementing its strategic asset allocation in its German company. Key elements of the new approach are the focus of our investments on international and broadly diversified corporate loans and the reduction of interest rate risks. In this way, Athora Leben has been able to increase its profitability year after year with a sustainable trend for the future.
The Group recently confirmed that it had secured more than €2.0 billion of additional common equity commitments that will allow it to continue to execute on its growth strategy, including the agreement for the acquisition of a closed book portfolio from AXA Germany, which is subject to regulatory approval.
In the last five years, the Group has integrated and scaled up European savings and retirement expertise across five countries and today holds more than €96 billion in pro forma consolidated Assets under Administration .