Frankfurt life
| Frankfurter Leben Holding GmbH & Co. KG
|
|
|---|---|
 |
|
| legal form | GmbH & Co. KG |
| founding | 2015 |
| Seat |
Bad Homburg vor der Höhe , Germany
|
| management |
|
| Number of employees | Ø 209 |
| sales | EUR 316.5 million |
| Branch | Insurance |
| Website | flgruppe.de |
| Status: 2018 | |
The Frankfurter Life Holding GmbH & Co. KG , partly as Frankfurt-life group called, is a German insurance group headquartered in Bad Homburg , some of the subsidiaries located in Munich , Cologne and Grünwald .
Business areas
The company has specialized in the settlement of life insurance companies and pension funds as well as insurance portfolios that are in run-off , making it one of a handful of specialists on the German market.
background
Frankfurter Leben Holding GmbH & Co. KG is a subsidiary of the Luxembourg Taunus Group SA , which belongs to the Chinese Fosun group. Frankfurter Leben GmbH is the general partner .
The Frankfurter-Leben-Gruppe is a platform that specializes in handling German life insurance companies and pension funds. Corresponding transactions take place either through company acquisitions, so-called share purchases or "share deals", or through transfers of stocks or parts of stocks, so-called " asset deals ". The acquired insurance portfolios are closed for new business, partly already explicitly in connection with the takeover, partly from strategic decisions made by the previous owners some time ago. Reported new business is therefore mainly generated by the dynamics of existing contracts as well as from consortium contracts with the pension protection association and the pension equalization fund .
history
The company was founded in August 2015 in order to take over part of the German branch of Basler Insurance, which is based in Bad Homburg and Bremen . The transition was approved by the responsible supervisory authority BaFin in January 2017 after a 15-month review , and the acquired company was renamed Frankfurter Lebensversicherung . In September 2016, ARAG SE announced that it wanted to sell its Munich-based life insurance subsidiary to the Frankfurt-based company as part of a restructuring. BaFin approval was granted for this in June 2017, and the company was also given a new name after the takeover with Frankfurter Münchener Lebensversicherung .
With the takeover of two pension funds in 2018, for which the owner control procedure of the supervisory authority was completed in autumn, the Frankfurter-Leben-Gruppe manages around 700,000 contracts with annual gross premium income of over 500 million euros and around ten billion euros in investments.
In September 2019, Frankfurter Leben announced that it wanted to convert the various insurance portfolios to a uniform management system in order to increase efficiency. For this purpose, the "Allianz Business System" operating system of Allianz Germany will be used in the future by means of software-as-a-service application .
Corporate structure
The Frankfurter Leben Group consists of four subsidiaries (as of February 2020):
- Frankfurter Lebensversicherung AG (formerly Basler Leben AG), Bad Homburg vor der Höhe
- Frankfurt Münchener Lebensversicherung AG (formerly ARAG Lebensversicherungs-AG), Munich
- Pro bAV Pensionskasse AG (former subsidiary of Axa Germany ), Bad Homburg vor der Höhe
- Prudentia Pensionskasse AG (former subsidiary of Cofra Holding AG ), Bad Homburg vor der Höhe
Web links
Individual evidence
- ↑ a b Frankfurter Leben Group. In: flgruppe.de. Retrieved February 20, 2020 .
- ↑ a b c Group report for the 2018 financial year. In: flgruppe.de. Retrieved February 20, 2020 .
- ↑ a b versicherungsmagazin.de: "Systematically considered run-off"
- ↑ versicherungsbote.de: "Basler sells old life insurance to an investor"
- ↑ handelsblatt.com: "Bafin approves deal for Frankfurter Leben"
- ↑ arag.com: "ARAG is preparing for a permanent phase of low interest rates and is reorganizing its business"
- ↑ manager-magazin.de: "One less life insurer ..."
- ↑ versicherungsbote.de: "BaFin waves sale of two pension funds through"
- ↑ versicherungsbote.de: "Allianz Software in action at Frankfurter Leben"