The Bundesbank has published the “Bezugszins” (10-year zero-coupon euro swap rate) for October 2025. It amounts to 2.659 %.
Already since October the “Referenzzins” for the calculation of the “Zinszusatzreserve (ZZR)” as of 31.12.2025 can be calculated as 1.57 %.
Assuming that the “Bezugszins” remains constant, the “Referenzzins” as at 31.12.2026 would be 1.57 %.
As of 31 December 2025, the “Referenzzins” for the calculation of the additional reserve requirement (“ZInsszusatzreserve” or “ZZR”) will again be 1.57%. With the publication of the “Bezugszins” (10-year zero-coupon euro swap rate) for September 2025 by the Bundesbank, the input values for calculating the reference interest rate are now complete. The calculation method of … Read more …
In the November 2017 issue of the Reinsurance Section Newsletter of the Society of Actuaries Kai Kaufhold and Bernd Heistermann published an article on Run-off of life portfolios in Germany.
Kai Kaufhold and Bernd Heistermann presented the actuarial survival analysis as an alternative to classical portfolio analyses of life, pension and health insurance business at a meeting of the German Actuarial Society in Wiesbaden on 8 March 2017. Actuarial survival analysis enables the joint modelling of different factors influencing mortality, lapse and disabilty rates. For … Read more …