Life insurance company for the army and navy

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Seal of life insurance company for the army and navy

The life insurance company for the army and navy opened on July 1, 1872 . Its statutes were approved by a very high cabinet order (AKO) on December 26, 1871.

history

After the end of the wars of unification but especially the Franco-German War in 1871 with over 40,000 deaths, caring for the bereaved became an urgent task. In order to close the supply gap, a life insurance company based in Berlin was founded for members of the military with relatively moderate contribution rates.

Its purpose was to insure capital of 500 to 20,000 marks in the event of death, including in the event of death in war and civil unrest. It was a mutual institution, but there was no distribution of profits from surpluses . The surpluses generated flowed into a fund that was supposed to provide cover for losses caused by the threat of war and extraordinary mortality. On the other hand, the insured were also secured against additional payment to the extent that in the event of extraordinary losses, if the institution's funds were insufficient, a guarantee of three million marks was initially offered for the capital approved by the German Kaiser.

The institution was under supervision of the Minister of War and under the supervision of a five-member Board of Directors . The chairman of this board of directors was appointed by the minister of war, the remaining four members elected for three years by the general assembly. The members of the Board of Directors performed their office free of charge as an honorary post .

The following could be accepted as insured persons: all officers, doctors and military officers with the rank of officer, officers on disposition, officers of the reserve and the Landwehr , civil officers of the military and naval administration, married active NCOs and in some cases also the lower military officers. When the establishment was confirmed, the AKO of December 26, 1871 imposed the obligation on all who were employed as officers, doctors or military officials in the army and navy or their administrations after the establishment of the establishment to insure the lowest permissible capital amount with the life insurance establishment .

In the year 1880 the annual premium of 100 marks insured sum for an entry age of 16 to 20 years was 1.80 marks. With a starting age of 60, the maximum age allowed, the contribution was 7.16 marks. With the assumption of the supply by the state in 1888 the compulsory insurance ceased and the life insurance company for the army and navy became a voluntary insurance.

The establishment merged in 1929 with the Prussian pension insurance institution and the Kaiser-Wilhelms donation . In the same year the name was changed to the "Deutsche Beamten-Versicherung" public life and pension insurance company "DBV. In 1990 the DBV Holding AG was founded and in 1996 the Winterthur insurance company in Munich was taken over and the name was changed to DBV-Winterthur Holding AG. In 2006 it was sold to the AXA Group .

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