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MetallRente: Swiss Life leads German consortium for occupational disability insurance

03.11.2005

From November 2005 MetallRente, the largest superannuation scheme in Germany, is offering private occupational disability insurance. The product provider for this new offer is Swiss Life, which presented the most convincing proposal in an internal and external benchmarking exercise, and now leads a consortium of well-known insurers for MetallRente.BU.

MetallRente, a joint collaboration between IG Metall and Gesamtmetall, is the largest superannuation scheme in Germany, and, as well as serving employees in both the metal and electronics industries, it also develops solutions for other sectors. At the end of 2004 its premium income amounted to EUR 175.5 million. In order to implement the contractual tariff provisions, MetallRente initiated a new consortium which supplements the previous range of coverages with occupational disability insurance.

In a bidding process with other well-known insurance companies, Swiss Life stole the show with its product that was designed specifically for the MetallRente superannuation scheme. Following its "best in class" principle, Swiss Life won the bidding with an outstanding idea.

"With the private occupational disability insurance (MetallRente.BU ), MetallRente is widening its product range for the approximately 4 million employees in its affiliated sectors. We are delighted that our product was received so positively and that we have the opportunity to promote the idea of MetallRente in our position as consortium leader," comments Manfred Behrens, CEO of Swiss Life Germany, on the decision.
About Swiss Life

Today Swiss Life numbers among the leading foreign insurance companies in the German market. The company is an independent provider of innovative insurance products and services in the fields of long-term savings and protection.

The broad range of products is designed for both individual and business customers. In the individual customers segment, Swiss Life brings many years of experience to the provision of statutory pensions by the private sector, to life insurance and to protection against the risks of occupational disability.

The benefits models available for business customers' occupational pension plans are built around their requirements. More than 20 000 well-known companies in a wide range of economic sectors are working with occupational benefits solutions by Swiss Life.

The Swiss market leader's German branch was founded in 1866 and is based in Munich. It is headed by Manfred Behrens, CEO for Germany. Swiss Life Germany employs around 850 staff in Internal Services and External Sales. With 32 field offices it can provide its services to the entire market. The distribution system relies mainly on cooperation with brokers, agents and other financial service providers.
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