Verti insurance
Verti Insurance AG
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legal form | Corporation |
founding | 1996 |
Seat | Teltow , Brandenburg |
management |
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Number of employees | approx. 550 (08/2019) |
Branch | Insurance |
Website | www.verti.de |
The Verti Versicherung AG is a direct insurer and, since May 29, 2015 of the Spanish Mapfre Group . Until June 14, 2017 it was called Direct Line Versicherung AG . From 2002 to February 2015 she was part of the UK Direct Line Insurance Group plc.
History of Verti Insurance in Germany
Verti Versicherung AG, headquartered in Teltow near Berlin in Brandenburg, is one of the largest direct insurers in Germany . The company was on the German market under the name Direct Line from 2002 under the red telephone and offers car and motorcycle insurance as well as traffic legal protection insurance as well as private liability and private legal protection insurance. Before that, the company was active in the German insurance market as Allstate Direct (1996 to 2002).
Until 2013, the Direct Line Insurance Group was part of the Royal Bank of Scotland (RBS). On March 12, 2013 it was announced that RBS had given up its majority stake in Direct Line by selling 15.3 percent of its shares. In October 2012, RBS had already sold 30 percent of its shares. In 2014, RBS parted with the last shares in the Direct Line Insurance Group.
The old brand name "Direct Line" goes back to the British Direct Line, which was founded in 1985 in Great Britain . Direct Line UK, headquartered in Croydon and meanwhile in Bromley, has developed into the largest direct insurer on the British motor vehicle insurance market.
In 2015, the Spanish insurance company MAPFRE completed the acquisition of Direct Line in Germany and Italy after approval by the regulatory authorities in both countries and the competent authorities of the European Union.
Board of Directors and employees
The company is led by the extended board around the chairman of the board, José Ramón Alegre. His predecessors were David Stachon (2012 to 2016), Uwe Schumacher (2008 to 2012) and Albrecht Kiel (2003 to 2008). Direct Line Versicherung AG currently employs around 400 people.
Products
In 2002 Direct Line started selling motor vehicle insurance products (motor vehicle liability, partially comprehensive and fully comprehensive insurance, as well as insurance and motor vehicle accident insurance) and for the first time in Germany offered the second car tariff to classify a second car in the no-claims class of the first car, even if the first car was not insured with Direct Line. In 2005, Direct Line expanded its product range to include traffic legal protection insurance, followed by private legal protection and personal liability insurance in 2006 and motorcycle insurance in 2007.
Types of insurance | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
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Motor vehicle liability insurance | 567.379 | 466.235 | 439.285 | 413.908 | 381.223 | 401.131 | 297.179 | 280.330 | 247,683 | 222.240 | - | - |
Other vehicle insurance (comprehensive insurance) |
441,449 | 365.424 | 348,880 | 328,869 | 302.964 | 308.328 | 228.243 | 214.091 | 182.196 | 160.228 | - | - |
Other insurance (e.g. assistance, accident insurance, legal protection) |
116,370 | 99,515 | 94,763 | 91,337 | 82,818 | 79,743 | 78.964 | 69,727 | 84,722 | 91,605 | - | - |
Total insurance portfolio | 1,125,198 | 931.174 | 882.928 | 834.114 | 767.005 | 789.202 | 604.386 | 575.148 | 515.301 | 474.073 | 403.095 | 332.103 |
Sales and Cooperations
Verti sells its motor vehicle insurance products as a direct insurer via telephone, internet and sales partnerships. Direct Line has consistently built up sales partnerships since 2004. Strategic partner industries are the automotive industry, insurance brokers, insurance marketplaces and selected partnerships in the finance and insurance industry.
Business figures
Since the start on the red telephone in 2002, Direct Line had grown double-digit in the highly competitive motor vehicle insurance market in Germany. The premium income in 2002 was a good € 60 million.
In the 2007 financial year, the company achieved profitability under the International Financial Reporting Standards (IFRS) with premium income of € 117.4 million and a balanced result of € 0.1 million . At the end of 2007, the insurance portfolio in the most important motor line amounted to around 297,000 vehicles.
In 2008 Direct Line took over the car insurance portfolio of the competitor Ontos Direktversicherung of the RheinLand insurance group , which had an annual premium income of around € 30 million with around 80,000 insured vehicles. The motor vehicle insurance contracts were integrated into the company's own portfolio. In 2008, Direct Line's premium income amounted to € 128 million, and the pre-tax profit for the year improved to € 0.3 million. The motor insurance portfolio at the end of 2008 was 401,131 vehicles.
In 2010, the direct insurer achieved the profit zone for the first time according to commercial accounting (HGB). With gross premium income of 150.6 million euros, a profit of 0.7 million euros was generated before the profits were transferred. In 2011 Direct Line recorded an increase in profits according to HGB to 2.2 million euros; for 2012, the result from normal business activity doubled to 4.4 million euros.
In the 2013 financial year, with a profit of 5.1 million euros, the result from normal business activities was improved again and rose to 5.4 million euros in the 2014 financial year; In 2015, however, a loss of 2.5 million euros was achieved.
year | Premium income |
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2002 | 63 million euros |
2003 | 77 million euros |
2004 | 92 million euros |
2005 | 103 million euros |
2006 | 114 million euros |
2007 | 118 million euros |
2008 | 128 million euros |
2009 | 140 million euros |
2010 | 151 million euros |
2011 | 162 million euros |
2012 | 171 million euros |
2013 | 216 million euros |
2014 | 250 million euros |
2015 | 277 million euros |
Memberships
- German Direct Marketing Association eV, Wiesbaden
Italy
The Italian Direct Line, based in Milan , has been a subsidiary of the Mapfre Group since May 2015. Direct Line Italy has been on the market since 2002 and is the second largest Italian direct vehicle insurer.
Web links
- Verti Versicherung AG website
- Verti Versicherung in the BaFin company database
supporting documents
- ↑ a b c d " The first 5 years: Direct Line on the road to success (PDF; 1.4 MB)", Direct Line image brochure, 2008
- ↑ Direct Line takes over vehicle inventory from Ontos Versicherung , Direct Line press release from June 25, 2008
- ↑ MAPFRE completes the acquisition of Direct Line in Germany and Italy . In: presseportal.de . ( presseportal.de [accessed on May 19, 2017]).
- ↑ Direct Line reaches profitability , Direct Line press release from June 4, 2008
- ↑ Direct Line acquires automotive policies from Ontos. Börsen-Zeitung of June 26, 2008, p. 4.
- ^ Annual report 2008 of Direct Line Versicherung AG , Direct Line, 2008, PDF for download
- ↑ Direct Line Insurance reaches breakeven point , Direct Line press release of July 28, 2011
- ↑ Direct Line Annual Report 2012
- ↑ Press release Annual Report 2013 from Direct Line, June 26, 2014
- ↑ Direct Line: Annual report for the financial year January 1, 2015 to December 31, 2015. (PDF) Accessed on May 21, 2018 .
- ↑ http://www.directline.it/
Coordinates: 52 ° 24 ′ 0.5 ″ N , 13 ° 14 ′ 47.7 ″ E