Generali Germany

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Generali Germany AG

logo
legal form Corporation
founding 1979
Seat Munich , GermanyGermanyGermany 
management Giovanni Liverani , Chairman of the Board
Number of employees 10,000
sales 14.3 billion euros
Branch Insurance
Website www.generali.de

Generali Deutschland AG is based in Munich

The Generali Germany AG , headquartered in Munich, is a major German insurance group. It consists of Generali Deutschland as the parent company and several German insurance companies .

With 14.3 billion euros in premium income and around 10 million customers, Generali Deutschland is the second largest primary insurer in Germany after Allianz and the fourth largest German insurance group after Munich RE and Talanx . In turn, it is wholly owned by the Italian Assicurazioni Generali , based in Trieste . The Generali Group is now active in 50 countries around the world and is number 92 on the list of the largest companies in the world .

Business activity

Generali Deutschland is active in the areas of life insurance , health insurance , composite insurance for private and commercial customers, legal expenses insurance , travel insurance and other financial services.

Numerous insurers and financial services companies work under the umbrella of Generali Deutschland. Generali Germany includes:

Numerous special service providers also belong to Generali Deutschland:

  • Generali Germany Pensionskasse AG
  • Generali Pensionsfonds AG
  • Generali Germany Services GmbH (GDS)
  • Generali Pensions and Security Management GmbH
  • Generali Deutschland Gesellschaft für bAV mbh

The Volksfürsorge insurance group also belonged to Generali until the end of its business activities. The Generali were a German insurance company headquartered in Munich .

In addition, Generali Deutschland holds a 40% stake in the important sales partner Deutsche Vermögensberatung AG.

organization

A distinction must be made between the following three companies:

  • Assicurazioni Generali (Trieste) - is the Italian parent company
  • Generali Deutschland AG (Munich) - is the German national subsidiary of Assicurazioni, under which several insurance companies are bundled
  • Generali Deutschland Versicherung AG (Munich) and Generali Deutschland Lebensversicherung AG (Munich) - are life and property insurance companies operating on the market under the name Generali

history

The historical origin of Generali Deutschland AG goes back to the year 1824, when the Aachener Feuer-Versicherungs-Gesellschaft was founded. In 1831 the company was renamed Aachen-Münchener Feuer-Versicherungs-Gesellschaft (mostly Aachen-Münchener for short ), which grew continuously in the 19th and 20th centuries and expanded its business activities. Since 1923, for example, Aachen-Münchener has also been offering liability , accident , motor vehicle and transport insurance . As a result of the adverse economic conditions during hyperinflation , many insurance companies merged in the 1920s. Capital links led to the formation of groups in the German insurance industry . In the course of this development, the financially strong Aachen-Münchener took over Thuringia Versicherung AG, founded in Erfurt in 1853 (originally Thuringia railway and general reinsurance company , now Thuringia insurance company in Erfurt ). After the difficult years of the global economic crisis , the Nazi era and the Second World War , the Aachen-Münchener faced a new beginning. The introduction of the D-Mark sparked an initial spark, as a result of which the German insurance industry revived. This was followed by other takeovers, such as those of Oldenburger Versicherungs-Gesellschaft in 1964 and Cosmos Allgemeine Versicherungs-AG in 1972, which began direct sales in 1982. As early as 1970, the Aachen-Münchener Feuer-Versicherungs-Gesellschaft was converted into the Aachen-Münchener Versicherungs-AG . At the end of the 1970s, the first legal foundations for today's corporate structure were laid. The Aachen-Münchener Versicherungs-AG was transformed into the AMB Aachen-Münchener Beteiligungs-AG and into a holding company, which is separated from the operative business .

Former building of the Barmer Bankverein and Commerzbank in Cologne

In 1998 the Italian Assicurazioni Generali acquired a majority stake of a good 65% in AMB Aachener und Münchener Beteiligungs-AG , which it continuously expanded in the following period. This brought Generali-Versicherungen, among others, into the group. In 2001 the company was renamed AMB Generali Holding AG . Further name changes and mergers followed before AMB relocated its headquarters from Aachen to Cologne in June 2009 and moved into the newly built “Dominium” office complex on Tunisstrasse. In the complex and the under was listed detached former building of the Barmer Bank Corporation (the 1932 Commerzbank merged), Unter Sachsenhausen 21-27, and integrates a sandstone facade on the comedy road.

In November 2002, the former German Chancellor Helmut Kohl was appointed to the Supervisory Board . In January 2004 Allianz AG sold its 9.5 percent stake.

The biggest change in recent years is the appointment of Giovanni Liverani as CEO . In the spring of 2015, he announced his new strategy for Generali Deutschland , in the course of which Generali Deutschland and Generali Insurance merged, established a new business model in life insurance and costs were lowered. In this context, the company decided to rename it to Generali Deutschland AG and to move from Cologne to the Bavarian capital of Munich . Liverani announced the continuation of the new strategy in autumn 2017. This provides for the concentration on only three brands in Germany (Generali, CosmosDirekt, Dialog), the run-off of Generali life insurance and, in personal sales, exclusive sales by the cooperation partner Deutsche Vermögensberatung . After the completed corporate restructuring, Generali wants to invest in growth in Germany. As part of the one-company model, Central Krankenversicherung AG will be renamed Generali Deutschland Krankenversicherung AG at the end of June 2020.

Sale of life insurance contracts

In 2018 Generali came under fire for the sale of 4 million German life insurance contracts to Viridium , 80% of which is owned by financial investor Cinven . On July 5, 2018 Generali announced the sale of 89.9% of the shares in the decommissioned German subsidiary Generali Leben . Around four million customers with guaranteed investments of 37 billion euros were thus passed on to the portfolio management company Viridium, based in Neu-Isenburg , which was founded in 2014 as a joint venture between the financial investors Cinven and Hannover Re . Generali expects total income of up to 1.9 billion euros from the sale because loans are to be returned to the group in addition to the purchase price. The German financial regulator BaFin approved the transaction in April 2019. Frank Grund, Executive Director Insurance and Pension Fund Supervision of the Financial Supervisory Authority BaFin , commented on this in April 2019: "An external run-off must not be demonized".

Key figures

Generali's operating result in Germany was € 832 million in the 2019 financial year (+1.4% compared to the previous year). The insurance group has around 10 million customers nationwide. At the end of 2019, Generali employed around 10,000 people in Germany at the various German locations.

Bodies

Giovanni Liverani, CEO of Generali Germany

Giovanni Liverani has been the Chairman of the Management Board since 2015 . Uli Rothaufe, Stefan Lehmann, Milan Nowotný, Jochen Petin, Christoph Schmallenbach, Roland Stoffels, Rainer Sommer, David Stachon and Robert Wehn ​​are also on the board.

The Supervisory Board consists of Antonio Cangeri (Chairman), Ulrich Effenberg (Deputy Chairman), Cristiano Borean, Isabelle Connor, Frédéric de Courtois, Michael Karl Feulner, Gerd Geib, Rolf Ixmeier, Maximilian Jetzlsperger, Martin Lemcke, Andreas Pohl, Reinfried Pohl, Ralph Plaßmann, Elisabeth Princess zu Sayn-Wittgenstein, Daniel-Christoph Schmidt and Martina Scholze.

Smart Insurance Products

In 2015, CEO Liverani also announced the new digitization strategy. It provides for the introduction of so-called smart insurance products, which combine digital technologies and insurance. Generali will be active in the areas of e-health , telematics and smart home . The focus is on the idea of ​​preventively avoiding damage thanks to the use of IoT. The strategy includes cooperation with the Alphabet subsidiary Nest Labs .

In 2016, the company received the negative Big Brother Award for the introduction of a program that offers discounts when purchasing certain products when visiting fitness studios .

marketing

Angelique Kerber as Generali brand ambassador

Generali appears nationwide in marketing with the slogan “Insurance becomes improvement”. In December 2016, Generali announced that tennis player Angelique Kerber would appear as the new brand ambassador. The commitment includes TV spots on Smart Insurance products. Since 2017, the insurer has also been the jersey sponsor of Kerber, which wears Generali's St. Mark's Lion . Angelique Kerber also acts as the patron of the Generali moves Germany sponsoring campaign , with which Generali supports national and local running events.

share

Generali Deutschland Holding AG was listed as a bearer share in the Prime Standard segment . In March 2011 the share switched to the General Standard . As the parent company, Assicurazioni Generali, Trieste , held a total of 95.96% in Generali Deutschland in July 2013. In May 2014, the remaining minority shareholders were compensated by a squeeze-out and excluded. The listing was discontinued a short time later.

Social Commitment

Generali Deutschland's social commitment goes back to the founder of Aachener und Münchener Feuerversicherung, David Hansemann , who in 1824 decreed that half of the annual profit should be used for social and cultural purposes through the Aachen Association for the Promotion of Labor , which was founded for this purpose should be. An example of this is the 1858 to King Friedrich III. Presented a donation of 5,000 thalers from the Aachen and Munich Mobiliar-Feuer-Versicherungs-Gesellschaft for charitable purposes. It formed the start-up financing for the establishment of a polytechnic school in Aachen, which later became the Rheinisch Westfälische Technische Hochschule ( RWTH Aachen University ). This resulted in the idea of ​​establishing the Friedrich Wilhelm Foundation for ongoing support of the university, in line with David Hansemann's decree in 1865 . The second foundation that operates today under the umbrella of Generali Deutschland is the Carl Arthur Pastor Foundation, founded in 1962 . The Human Safety Net has been the central CSR project since 2017 . This is an international initiative of the Assicurazioni Generali. In Germany, Generali wants to support disadvantaged children and refugees . The aim is to provide them with extensive support in the form of mentoring, coaching, etc. and thus improve their educational opportunities. In the case of refugees, the main aim is to support them in setting up their own businesses .

Web links

Commons : Generali Deutschland  - Collection of images, videos and audio files

Individual evidence

  1. ↑ Insurance journal - The largest insurance companies ( Memento from July 9, 2017 in the Internet Archive )
  2. ↑ Largest insurance companies in Germany in 2018. In: statista.com. Retrieved January 22, 2020 .
  3. ↑ Specialists in primary insurance and related financial services. Retrieved July 17, 2020 .
  4. ^ Profiles - Generali Group. Retrieved July 17, 2020 .
  5. ↑ The largest insurance companies in Germany according to premium income. In: www.arzt-wirtschaft.de. November 10, 2016, accessed January 22, 2020 .
  6. ^ Versicherungsbote.de: Generali changes its name to life and health insurance - Markt - Versicherungsbote.de. July 1, 2020, accessed July 20, 2020 .
  7. ^ Versicherungsbote.de: Generali changes its name to life and health insurance - Markt - Versicherungsbote.de. July 1, 2020, accessed July 20, 2020 .
  8. ↑ Generali board: "There will be no losses for brokers". Retrieved July 21, 2020 .
  9. ↑ Specialists in primary insurance and related financial services. In: www.generali.de. Retrieved January 22, 2020 .
  10. ↑ Service companies. Retrieved August 6, 2020 .
  11. ^ Steffen Preißler: The end of Volksfürsorge will cost Hamburg 130 jobs. In: www.abendblatt.de. March 16, 2015, accessed January 22, 2020 .
  12. ↑ Finevision and Media Pilot for Cash Online http://www.cash-online.de : Generali completes renovation: AachenMünchener and Central are history. In: Financial news on Cash.Online. Retrieved July 20, 2020 .
  13. ^ Versicherungsbote.de: Generali changes its name to life and health insurance - Markt - Versicherungsbote.de. July 1, 2020, accessed July 20, 2020 .
  14. ^ Renate Schwärzel: German Economic Archives . Franz Steiner Verlag, 1994, ISBN 978-3-515-06211-4 ( google.de [accessed on January 22, 2020]).
  15. ↑ sammleraktien-online.de/ Archive Collections of German Shares - Aachen and Munich Beiteiligungs AG
  16. ↑ sammleraktien-online.de/ Archive Collections of German Shares - Aachen and Munich Beiteiligungs AG
  17. ↑ CORINNA SCHULZ: AMB Generali later moves to Cologne. Kölner Stadt-Anzeiger, March 19, 2008, accessed on January 22, 2020 .
  18. ↑ We made a book profit. Allianz sells AMB Generali stake. In: Handelsblatt
  19. ↑ Generali Germany boss wants to reduce costs by up to 30 percent. In: Wirtschaftswoche
  20. ↑ Generali in Germany: Insurer handles life insurance. In: www.handelsblatt.com. September 28, 2017, accessed January 22, 2020 .
  21. ↑ Generali has recently started growing again. In: www.handelszeitung.ch. January 29, 2019, accessed January 22, 2020 .
  22. ^ Mirko Wenig: Central becomes Generali Krankenversicherung. In: Insurance messenger. June 19, 2020, accessed June 19, 2020 .
  23. ↑ Wirtschaftswoche: Sale of old policies: Generali leaves liquidator Viridium four million contracts. Retrieved May 9, 2019 .
  24. ↑ REVEALED: Four million insurance policies sold to "British grasshopper" ... May 7, 2019, accessed on May 9, 2019 (German).
  25. ^ Versicherungsbote.de: BaFin: Generali may sell life stocks to Viridium - old-age provision - Versicherungsbote.de. April 9, 2019, accessed May 9, 2019 .
  26. ↑ Generali Leben is sold: Breakthrough for Viridium and the entire run-off market. In: versicherungswirtschaft-heute.de . July 6, 2018, accessed July 12, 2018 .
  27. ↑ Life policies: Turning point for life insured persons: What the Generali deal means for the industry. Retrieved July 21, 2020 .
  28. ↑ Reports & Presentations. Retrieved July 21, 2020 .
  29. ^ Insurance magazine - Generali Germany: Giovanni Liverani succeeds Dietmar Meister ( Memento from February 3, 2015 in the Internet Archive )
  30. ↑ Changes in the supervisory board and in the management board of Generali Deutschland AG. Retrieved July 21, 2020 .
  31. ↑ IT financial magazine: Generali Domocity: "In the future our life will be significantly smarter" - the smart home double interview · IT financial magazine. In: IT financial magazine. March 19, 2018, accessed on January 22, 2020 (German).
  32. ↑ Google comes to our house. In: www.tagesspiegel.de. January 16, 2017, accessed January 22, 2020 .
  33. ↑ Consumer protection: Generali Insurance - BigBrotherAwards. In: bigbrotherawards.de. April 22, 2016. Retrieved April 23, 2016 .
  34. ↑ Zeit - Germans find Kerber likeable
  35. ^ Insurance industry - Kerber wears Generali on his chest
  36. ↑ Insurance industry - learning from Kerber means learning to win
  37. ↑ Squeeze-out: Generali Deutschland says goodbye to the stock exchange. In: www.handelsblatt.com. December 5, 2013, accessed January 22, 2020 .
  38. ^ Friedrich Wilhelm Prize. In: rwth-aachen.de. RWTH AACHEN UNIVERSITY Faculty of Architecture, accessed on January 22, 2020 .
  39. ^ The Human Safety Net, Home. In: www.thehumansafetynet.org. Retrieved January 22, 2020 (English).
  40. ^ Insurance industry - The Human Safety Net - Generali im Dialog ( Memento from June 15, 2017 in the Internet Archive )