Generali Insurance
| Generali Insurance
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|---|---|
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| legal form | Corporation |
| founding | 1845 |
| resolution | 2019 |
| Seat | Munich , Germany |
| Branch | Insurance |
The Generali were a German insurance company with headquarters in Munich , the casualty insurance has risen in the Generali Versicherung AG Germany and the dialogue Versicherung AG in the division property of 2019. Generali Deutschland Versicherung AG is part of Generali in Germany. Generali Lebensversicherung AG was sold in 2019 with a share of 89.9% to the Viridium Group, with which an industry partnership has been entered into on the German market.
Generali's parent company in Germany is the Italian insurance group Assicurazioni Generali . Today it is active in 50 countries around the world and is number 92 on the list of the largest companies in the world .
The name is derived from the Latin expression generalis (German: "general" or "common"). The background to this is that the parent company Assicurazioni Generali offered all insurance lines when it was founded and did not, as was customary at the time, specialized in one.
history
Foundation in Italy and market entry in Germany
The Assicurazioni Generali was founded on December 26th, 1831 in Trieste, Austria . Due to the regional proximity, those responsible chose the St. Mark's Lion of the city of Venice a few years later , which still functions as the logo today. In the following years the company set up branches in the various countries of Italy, which was not yet unified at the time.
The entry into the German market took place on June 15, 1845: The merchant Wilhelm Lazarus founded the first general agency on German soil in Hamburg. Other insurance companies, which later became part of Generali Versicherungen, were also founded in the following period, such as Thuringia Versicherungs-AG (1853), Deutsche Lloyd Transport-Versicherungs-AG (1870) and Erste Allgemeine (1882). In 1912 the Volksfürsorge (Volksfürsorge trade union-cooperative insurance company) was founded in Hamburg . Initiators were trade unions and consumer cooperatives who pursued the goal of financial security for workers.
Consolidation and a fresh start
After the end of the war, the Assicurazioni Generali began to reorganize business in Germany. In 1948 the central office of the Assicurazioni for the western zones was established in Frankfurt. When the life insurance portfolio in Germany was growing steadily in the 1950s, the Trieste Central Management decided to set up its own administration for the life insurance business in Germany.
Numerous mergers and name changes shaped the further history: One of the most important was the one from 2009, when Generali Insurance merged with Volksfürsorge. This remained for a few years as an independent sales company. On January 1, 2015, Generali Insurance and Volksfürsorge were finally merged.
In May 2015 Giovanni Liverani announced his new strategy for Generali in Germany. This provides for the merger of Generali Deutschland and Generali Versicherungen, a new business model in life insurance, a stronger focus on customers and sales and a modern and leaner operational platform. In this context, the company also announced the launch of its Smart Insurances products.
Sale of Generali Lebensversicherung AG and transfer of Generali Versicherung AG
With effect from April 30, 2019, the Viridium Group completed the majority acquisition (89.9%) of Generali Lebensversicherung AG from Generali. Generali will retain a 10.1 percent stake in Generali Leben. The transaction was preceded by an extensive owner control procedure by the Federal Financial Supervisory Authority (BaFin) . In September 2019, the Viridium Group confirmed the sale of a real estate portfolio from the fixed assets of Generali Lebensversicherung AG (Generali Leben) to Commerz Real . In October 2019, Generali Lebensversicherung AG was renamed Proxalto Lebensversicherung AG. The property business of Generali Versicherung in Munich was transferred to the newly founded Dialog Versicherung in 2019.
Web link
Individual evidence
- ↑ Dialog takes over broker portfolios from the former Generali Versicherung AG In: Insurance Industry Today. October 23, 2019, accessed on July 23, 2020 (German).
- ↑ Specialists in primary insurance and related financial services. Retrieved July 23, 2020 .
- ↑ Life policies: Turning point for life insured persons: What the Generali deal means for the industry. Retrieved July 23, 2020 .
- ↑ Generali sells four million life contracts to the liquidator Viridium. July 5, 2018, accessed July 23, 2020 .
- ^ Profiles - Generali Group. Retrieved July 23, 2020 .
- ↑ Tagesspiegel - Generali and Volksfürsorge merge
- ^ Hamburger Abendblatt - End of Volksfürsorge costs Hamburg 130 jobs
- ↑ Wirtschaftswoche - Generali Germany boss wants to reduce costs by up to 30 percent
- ↑ Life insurer: Sale of Generali Leben to Viridium is complete. In: www.handelsblatt.com. April 30, 2019, accessed January 22, 2020 .
- ↑ Acquisition of Generali life insurance completed. In: www.viridium-gruppe.com. April 30, 2019, accessed January 22, 2020 .
- ↑ Generali Lebensversicherung AG: Owner control procedure completed. In: www.bafin.de. April 9, 2019, accessed January 22, 2020 .
- ↑ GENERALI LEBEN'S REAL ESTATE PORTFOLIO IS SOLD TO COMMERZ REAL. In: viridium-gruppe.com. September 27, 2019, accessed February 26, 2020 .
- ↑ GENERALI LIFE BECOMES PROXALTO. In: viridium-gruppe.com. July 28, 2019, accessed February 26, 2020 .
- ↑ Generali board: "There will be no losses for brokers". Retrieved June 3, 2020 .