On 30 November and following tough negotiations, Germany’s insurance sector social partners finally signed a collective agreement covering the 170,000 employees in the sector’s various services segments. The agreement secures the sector’s employees a two-stage 4.8% salary increase, as well as a one-off bonus of €225 for December. Furthermore, and in a bid to attract younger cohorts, the signatories agreed a substantial increase for apprentices. They also agreed to start talks on an agreement over the potential for employees to choose between receiving a salary increase and additional leave time.
Consistent with the wishes of the insurance sector’s employers’ body, the AGV, this collective agreement spans a relatively long period of 29 months, and will apply from 01 September 2019 until 31 January 2022.
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