German insurance employees to get two-step salary rise - union

FRANKFURT (Reuters) - German union Verdi said on Saturday it had reached agreement with employers to raise salaries for 170,000 employees in Germany's insurance sector.

Salaries will increase in two steps, Verdi said, with the first raise - 2.8% - taking place on April 1, 2020 and the second - 2.0% from June 1, 2021. The new deal will also include a one-time payment of 225 euros per employee on Dec. 1, 2019.

The agreement will run until end-January 2022.

(Reporting by Christoph Steitz; Editing by Mark Heinrich)