(1) The policyholder is entitled to a share of the profit and valuation reserves (surplus sharing), unless surplus sharing is ruled out by explicit agreement; surplus sharing may only be ruled out in full.
(2) The insurer applies a causation-based procedure to the surplus sharing; other comparable, suitable principles of distribution may be agreed. The amounts within the meaning of section 268 (8) of the Commercial Code are not taken into account.
(3) The insurer determines the valuation reserves annually, and assigns them by calculation according to a causation-orientated procedure. When the contract expires, the amount to be determined for that point in time is halved, and half is paid to the policyholder; earlier payment may be agreed. Supervisory regulations regarding safeguarding the ability to perform the obligations from the insurance policies in the long term, in particular section 89, section 124 (1), section 139 (3) and (4), and sections 140 and 214, of the Insurance Supervision Act remains unaffected.
(4) In the case of pension insurance policies, the end of the savings accumulation period is the relevant time in accordance with subsection (3) sentence 2.