Interest payment: The Federal Court of Justice sees no mistake from BLD client “Allianz Leben”
German life insurers still do not have to share generated surpluses with their clients. This can be gathered from a judgment of the Federal Court of Justice (FCJ) from February, following an action of a policyholder against “Allianz Leben” (file no.: IV ZR 213/14).
The now retired plaintiff had paid for more than 20 years of contributions to a life insurance and accused Allianz of having paid too little interest after the expiry of the policy. In this specific case the man received in 2008 about 28,000 euros, of that the insurer had declared more than 9,000 euros to be so-called surpluses. The plaintiff requested a further 650 euros and sued unsuccessfully in the previous instances.
Now, the FCJ too dismissed the plaintiff’s appeal. The IV. Civil Chamber did not follow the plaintiff’s argumentation, according to which Allianz had set off his share in the gains inadmissibly against the interest surpluses. In his opinion such valuation reserves had to always be summed up and to be set off in his favour. The court, however, saw no reason to doubt the allocation method, which is quite usual in the insurance industry.
Consumer advisors criticise the judgment. The Senate did not address the question, how insurers calculate surpluses that a policyholder receives after the expiry of the policy.
Legal representatives policyholder
Dr. Wendt Nasall (Karlsruhe; representative before the FCJ)
Stephen Rehmke (Hamburg) – known from the market
Representatives “Allianz Leben“
Baukelmann Tretter (Karlsruhe; representative before the FCJ): Dr. Peter Baukelmann
BLD Bach Langheid Dallmayr (Cologne): Dr. Joachim Grote; Associate: Dr. Martin Schaaf
Federal Court of Justice, IV. Zivilsenat
Barbara Mayen (presiding judge)
Background: By mandating Bach Langheid Allianz banked upon a recognised and specialised law firm in the area of insurance law. The Cologne based partner Grote is especially experienced with regard to model case proceedings in connection with life and pension insurance. For some years now the law firm has had its own premises in Karlsruhe. However, with regard to proceedings before the FCJthey work well together with the FCJ laywers Baukelmann Tretter (formerly Büttner Baukelmann). (Markus Jung)
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