The Top 10 Insurance Companies in Germany

Insurance Companies in Germany

Germany has a long-standing insurance industry, and the market has plenty of competition between various companies. It can be difficult to figure out who the best insurance companies in Germany are,
so we’ve compiled this list of the top 10 insurance companies in Germany to make things easier on you. Read on to learn more about these reliable and trustworthy organizations, and get tips on choosing an insurance provider that fits your needs.

1 Allianz SE

2 Munich Re Group

3 AXA Group

4 HDI Gerling Industrie Versicherung AG

5 Hannover Rückversicherung AG

6 Central Europe Holding GmbH (CEH)

7 Zurich Insurance Group Ltd.

8 Generali Deutschland Holding AG

9 Ergo Group Aktiengesellschaft

10 Deutsche Telekom AG

#1 Allianz SE

Allianz is one of Europe’s biggest insurance companies and is part of Germany’s blue-chip DAX 30 index. The company provides both life and non-life insurance products to around 90 million customers across 70 countries.
Allianz is a global leader in asset management and investment advisory services, with more than 1,400 investment professionals serving clients from over 100 offices worldwide. In 2014, Allianz generated gross premiums written of 128 billion euros ($161 billion).
The Top 10 Insurance Companies in Germany

#2 Munich Re Group
Munich Re Group is a global reinsurance company based in Munich, Germany. It is among one of Germany’s largest insurance companies and has more than 50 subsidiaries worldwide. Reinsurance protects insurers from heavy losses on policies written, which are too expensive for them to pay out if something were to happen.
One of Munich Re’s biggest competitors is Swiss-based AXA S.A., a multinational financial services conglomerate with over $111 billion worth of assets. Since Munich Re’s establishment over 150 years ago. It has developed into one of Europe’s most powerful and diversified insurance groups. With assets totaling more than $24 billion as reported by Forbes Magazine’s 2012. List of most valuable publicly traded companies around the world (Insurance).The Top 10 Insurance Companies in Germany
#3 AXA Group
AXA is an insurance powerhouse. It has operations in more than 70 countries and provides insurance for nearly 98 million clients worldwide. The firm was founded in 1816 and currently offers more than 300 different types of insurance to its clients. AXA also owns 681 subsidiaries, which specialize in areas like reinsurance, financial planning, life insurance, annuities and banking.
Combined with its main company, AXA has more than $88 billion dollars worth of assets under management. Despite having more than 870 million customers worldwide, it only earned a profit of approximately $2 billion dollars last year—making it one of Germany’s smaller players on this list.The Top 10 Insurance Companies in Germany

#4 HDI Gerling Industrie Versicherung AG

Headquartered in Kiel, Germany, HDI Gerling Industrie Versicherung AG is a subsidiary of HDI Gruppe. The company offers motor insurance, liability insurance and fire insurance. Additionally, it covers various risks like natural disasters and epidemic diseases.
In 2015, it had assets worth around 8 billion euros with total revenues of almost 1 billion euros. As of 2015, it has approximately 14 billion euros worth of liabilities under management. It has been awarded as one of Germany’s most sustainable companies by World Economic Forum (WEF).The Top 10 Insurance Companies in Germany
#5 Hannover Rückversicherung AG
Founded in 1842, Hannover Re is one of Germany’s oldest insurance companies. It offers various products and services to both private and corporate clients. Hannover Re manages seven different funds with total assets of USD 1.3 trillion.
And a total equity portfolio worth USD 500 billion as of 2010. In 2009, it was ranked 27th on Forbes’ list of global leading companies. As of 2012, its revenue totals EUR 4.8 billion while its net profit reaches EUR 729 million.The Top 10 Insurance Companies in Germany
#6 Central Europe Holding GmbH (CEH)
Germany-based Central Europe Holding is a leading provider of non-life insurance products and services in Central and Eastern Europe. The company offers insurance solutions to its customers via 1,100 points of sale located throughout Germany.
CEH owns around 40 insurance companies with more than 4,000 employees and a total premium income of almost 2 billion euros (2.2 billion USD). The company holds an A rating with Standard & Poor’s based on financial stability. And an A+ rating from Fitch Group’s Financial Institution Ratings team. It trades on Germany’s Xetra market under ticker symbol CEH.The Top 10 Insurance Companies in Germany
#7 Zurich Insurance Group Ltd.
$17.9 billion (2012) Zurich Insurance Group Ltd. began as an insurance company and today remains Germany’s largest insurer, with a portfolio that includes motor, property and life insurance. Its core businesses include general insurance, life and health insurance, disability insurance and personal accident insurance.
The company is also involved in asset management, retail banking and reinsurance services across Europe. In addition to its German headquarters in Zurich, Switzerland, Zurich Insurance Group operates locations throughout Germany including offices in Berlin, Munich and Frankfurt am Main.The Top 10 Insurance Companies in Germany
#8 Generali Deutschland Holding AG
Generali Deutschland Holding AG, part of Generali Group. It is an insurance company that offers services including health insurance, travel insurance and life insurance. The company also provides related financial services including asset management and supplementary pension products.
Headquartered in Munich, Germany, Generali Deutschland’s shares are listed on Deutsche Boerse AG. In 2015, Generali Deutschland reported a revenue of EUR 1.88 billion ($2.02 billion). Currently led by CEO Hagen Zacharias (since 2012). Generali Deutschland employs more than 2,600 people. And maintains operations primarily in Germany and Austria through a network of 19 branches.The Top 10 Insurance Companies in Germany
#9 Ergo Group Aktiengesellschaft
Based in Munich, Germany, Ergo Group Aktiengesellschaft is a provider of general insurance products and services. As of 2018, it had approximately 2.3 million individual customers and about 1,000 corporate clients.
It was founded more than 100 years ago by Cornelius Ergo as a small fire insurance company. And expanded significantly through mergers over time to become one of Germany’s largest insurers. Although originally based only in Bavaria. Today it operates throughout Germany as well as globally with businesses outside of Europe. Including more than 20 countries worldwide.The Top 10 Insurance Companies in Germany

#10 Deutsche Telekom AG

German-based Deutsche Telekom AG is Germany’s largest telecommunications company. Though its primary income source is mobile and fixed-line services, it also invests heavily in insurance. The company offers a number of products to both business and individual customers.
These include life insurance, accident and sickness insurance, liability insurance and energy protection, among others. In 2013, Deutsche Telekom agreed to purchase Italian insurer Generali for $14 billion. Taking its total assets past $200 billion for that year alone.The Top 10 Insurance Companies in Germany

Conclusion

As is so often true, location matters a great deal when it comes to insurance. Germany has some of Europe’s largest and most dynamic economies. So if you happen to live there or have interests that extend into that country. It’s essential to be sure your home and automobile insurance is from a reliable provider.
If you’re thinking about moving or doing business in Germany. Choosing an insurer with a strong presence there may save you time and money if disaster strikes. This list should help get you started.

Leave a Comment