Mortality in Germany during the Covid-19 pandemic

TL;DR

This paper analyzes excess mortality in Germany during 2020-2021 using official data, focusing on implications for life insurers and related insurance sectors amid the Covid-19 pandemic.

Contribution

It provides an empirical assessment of excess mortality in Germany during the pandemic, with specific insights for the insurance industry from a life insurer's perspective.

Findings

Quantifies excess mortality during 2020-2021 in Germany.

Offers insights relevant for pension, life, and health insurance portfolios.

Uses official government data for comprehensive analysis.

Abstract

The Covid-19 pandemic still causes severe impacts on society and the economy. This paper studies excess mortality during the pandemic years 2020 and 2021 in Germany empirically with a special focus on the life insurer's perspective. Our conclusions are based on official counts of German governmental offices on the living and deaths of the entire population. Conclusions, relevant for actuaries and specific insurance business lines, including portfolios of pension, life, and health insurance contracts, are provided.