Horst Döring

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Horst Döring (born December 26, 1940 in Hanover ) is a former German manager.

From 1957 to 1960 Horst Döring trained as an insurance salesman at Gladbacher Feuerversicherungs-AG, Hanover, where he became head of the property claims department in 1961. From 1962 to 1966 he worked at Allgemeine Feuerversicherungs-AG, Gloe & Kohrs in Hanover as head of the property insurance department.

From 1966 to 1968 he studied business administration at the German Insurance Academy in Cologne and then worked from 1968 to 1971 at the Verband der Sachversicherer eV in Cologne in the department for industrial fire insurance.

Döring joined Victoria Insurance (then VICTORIA Feuer) in 1971 and works in the technical field service. In 1974 he became head of the industrial property insurance department, in 1979 also head of the commercial and private property insurance department and in 1988 also head of the technical insurance department.

In 1990 he became a deputy member of the board of directors of VICTORIA Versicherung AG and was also responsible for the transport division before becoming a full member of the board of directors of VICTORIA Versicherung AG in 1992.

With effect from March 1, 1998, Horst Döring was appointed chairman of the board of Victoria-Versicherung. He became the successor to Edgar Jannott , who was previously chairman of the board of the Ergo insurance group and the subsidiary Victoria insurance. He took over a company in good shape: In 1997 Victoria had achieved the best result in its history to date and increased its net income after taxes from DM 57 million in the previous year to DM 120 million in 1997. In the following years, too, Victoria expanded under the leadership of Horst Döring and increased sales and market shares every year. In 1999 Victoria invested DM 25 million in a large-scale advertising campaign and the expansion of the sales network. The Victoria Group increased its premium income by around five percent to 10.5 billion DM. In the following year, too, it succeeded in increasing premium income by 4.1 percent to 11.0 billion DM, while the market grew by 2.2 percent. Profits also rose as a result of sales growth in all divisions. The growth drivers were the sales cooperation with Hypovereinsbank and the newly introduced Riester pension contracts . In 2001, this resulted in premium growth of 5.2 percent to 6.0 billion euros.

A short time later, the Victoria was hit hard by the bursting of the dot-com bubble . Victoria had relied on a relatively high equity quota in its investment policy (and thus generated good returns for its customers during the bull market ). In 2001 the equity quota was 23.3%. The bursting of the bubble resulted in the greatest loss in the company's history. In the 2002 financial statements, there was a non-adjusted gap between book and fair values ​​of 241 million euros. The BaFin stipulated that all insurance companies stress tests had to perform in order to simulate the effects of further falling prices. Victoria failed this stress test and had to submit a catalog of measures to BaFin. This included a reduction in the equity allocation, which fell to 12.6%. Victoria continued to grow regardless of this turbulence: in 2002 the premium income of the group rose by 4.6 percent to 6.3 billion euros. In the last annual report under Horst Döring 2004, Victoria was able to report that the hidden burdens were almost completely eliminated. An increase in equity of € 500 million contributed to this.

In addition to his role as CEO, he was a member of the ERGO Group Management Board from 2000 until his retirement in 2004, where he was responsible for the property insurance division.

At the end of 2004 Horst Döring retired and switched to the supervisory board. He was succeeded as CEO by Götz Wricke.

Web links

Individual evidence

  1. ↑ Jannott sets priorities; in: Frankfurter Allgemeine Zeitung, February 11, 1998, No. 35, p. 14
  2. ↑ company news ; in: Frankfurter Allgemeine Zeitung, July 6, 1998, No. 153, p. 25
  3. ↑ Victoria grows above average - sales offensive / tariff increase in motor insurance; in: Frankfurter Allgemeine Zeitung, November 27, 1999, No. 277, p. 23
  4. ↑ Victoria expects premium increases - growth above market average / loss of profit in property insurance; in: Frankfurter Allgemeine Zeitung, November 24, 2000, No. 274, p. 22
  5. ↑ Victoria has big plans with the Riester pension - life insurer to sell 1.5 million contracts / growth spurt from Hypo-Vereinsbank; in: Frankfurter Allgemeine Zeitung, April 3, 2002, No. 77, p. 21
  6. ↑ Strong growth, but huge hidden burdens at Victoria - life insurance does not pass stress tests / The 150 year old group wants to continue to grow strongly; in: Frankfurter Allgemeine Zeitung, April 3, 2003, No. 79, p. 21
  7. ↑ 2004 Annual Report
  8. ↑ [1]
  9. ↑ New distribution of tasks within the ERGO Insurance Group ( Memento from August 8, 2014 in the Internet Archive )
  10. ↑ [2]
personal data
SURNAME Döring, Horst
BRIEF DESCRIPTION German manager
DATE OF BIRTH December 26, 1940
PLACE OF BIRTH Hanover