German life insurers' average net return fell from 3.5% to 2.2% in 2022, latest figures published by BaFin have revealed.
Lifers' investments rose to €1.1bn in 2022, and BaFin noted that rising rates meant "after years of declining profit sharing life insurers moderately increased their profit participation for the year 2023".
BaFin also registered 10 of 79 life insurers using internal models, compared to four of 40 health insurers.