Cancellation quota

Unless otherwise defined, the number of insurance contracts terminated, broken down into – early termination (terminations within the first twenty-four months of the contract being concluded within the financial year as a percentage of the average new business [= half of the new business in the financial year plus half of the new business in the previous year], based on monthly premiums written of the respective type of insurance) and – late termination (terminations after the first twenty-four months of the financial year as a percentage of the portfolio at the beginning of the financial year and calculated on the basis of monthly premiums written of the respective type of insurance): Departure after the first twenty-four months within the fiscal year as a percentage of the portfolio at the beginning of the fiscal year and calculated on the basis of monthly premiums of the respective type of insurance). – Among other things, the lapse rate is also considered an economic indicator. – See the lapse rates for individual insurance lines in Germany reported in the respective annual report of BaFin, chapter “Supervision of Insurance Companies and Pension Funds”.

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