What does this traffic sign combination mean to you?

You correctly identified that this sign combination means you are on a priority road that bends to the left.

In German traffic rules, the yellow diamond indicates you have priority at intersections. The smaller sign below shows the shape of the priority road, which in this case bends left. This means you must follow the bend and maintain right of way over other vehicles entering or crossing the road from side streets.

Remember, this sign tells you that your road does not go straight here, but turns left, and you keep your priority along that bend. Other vehicles must yield to you when you follow this priority road. This helps avoid confusion at intersections where the main road curves.