Innovate to accumulate

New German Products

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Life insurance companies in Germany are facing strong competition from banks, mutual funds and structured products. Until the 1990s, customers tended to see them as a necessary evil, as they appeared boring and inflexible, but safe. But this is changing. "British life insurance companies entering the German market gave the spark for innovation, especially for more flexible tariffs and for a greater focus on performance and equity investments," says Karl Panzer, CEO at Munich-based insurance comp

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