Insurance
Contribution increases in private health insurance expected
Patient with a family doctor: Privately insured people have to expect premium increases across the board. photo
© Bernd Weißbrod/dpa
The Alte Leipziger Hallesche insurance group is benefiting from growing demand for private health insurance. At the same time, expenses for services in the industry are increasing.
private customers According to the Alte Leipziger Hallesche (ALH) insurance group, health insurance companies must prepare for premium increases.
In view of the recent significant increase in service costs in the industry, premium increases are expected across the board, said the responsible board member Wiltrud Pekarek. At Hallesche Krankenversicherung, expenses for insurance claims rose by 12.3 percent to 1.05 billion euros last year. Pekarek pointed out that the German Bundesbank expects additional contributions for statutory health insurance to rise significantly from 2025 without fundamental reform.
Strong demand for private health insurance in 2023
Last year, the insurance group benefited from strong demand for private health insurance. According to the information, Hallesche achieved the strongest new business in its company history. Premium income rose by 8.0 percent to 1.54 billion euros, as the insurance group in Oberursel announced.
In life insurance, however, competition from banks was noticeable, luring customers with rising interest rates for overnight money etc. Bank deposits were more attractive compared to life insurance products where customers only had to pay a one-off premium. Business with single premiums therefore declined. At 2.88 billion euros, Alte Leipziger Lebensversicherung’s total premium income was slightly below the previous year’s level of 2.97 billion euros.
Record results in property insurance
The property insurance of Alte Leipziger Versicherung recorded an increase of 41.3 percent in new business and, according to the information, recorded the best result in the company’s history.
The group’s total sales, which also include Alte Leipziger Bauspar and Trust Investment-Gesellschaft, rose by 1.7 percent to 5.32 billion euros last year. Despite the challenging environment, the year 2023 was very successful for the ALH Group, said CEO Christoph Bohn.