VHV group
| VHV group
|
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|---|---|
 |
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| legal form | VVaG |
| founding | 2003 |
| Seat | Hanover , Germany |
| management | Uwe H. Reuter |
| Number of employees | 3,247 (2019), including 2,600 in Hanover |
| sales | 3.24 billion euros |
| Branch | Insurance, assets, provision |
| Website | www.vhv-gruppe.de |
The VHV Group in Hanover is a German company for insurance , pensions and assets, which operates as a primary insurer and reinsurer within Germany and abroad . The insurance group is one of the 20 leading primary insurance groups and one of the five largest motor vehicle insurers in Germany. In addition, the VHV Group is a leading German construction and credit insurer and is one of the 15 largest companies in Lower Saxony in terms of value added.
history
Until 2003 - Independent company
The VHV Group was created through the merger of various insurers from the Hanover region. In 1875 and 1919, the core companies of today's VHV Group were founded in Hanover as mutual insurance associations. The VHV Allgemeine Versicherung AG for private and commercial property , liability and accident insurance and technical insurance emerged from the liability insurance company of the Hanover building trade and professional association. It was built by three contractors as a self-help facility and by the end of 1919 already had 337 members. In 1924 the insurance was expanded to become the “liability insurance company of the German construction industry”, before the “United liability insurance” (VHV) was created through mergers in 1941. Today, VHV continues to have a strong position in the construction industry as a specialist insurer and has appeared as an insurer for major projects such as the Elbphilharmonie or the Reichstag building . As the market leader (market share approx. 23.6 percent) in this segment, the VHV is decisive at the Institut für Bauforschung e. V. participates with the aim of making the knowledge gained on damage and risk minimization available to interested companies.
Hannoversche Lebensversicherung AG for old-age provision , on the other hand, is the successor to the Prussian civil servants' association and Germany's oldest direct insurer and was originally known under the catchphrase of agentless advertising. In 1935, the insurance association opened up to people who were not Prussian officials. Today Hannoversche is the market leader in term life insurance and, at 1.56 percent, has one of the lowest cancellation rates in the German life insurance market. Both companies merged in 2003 to form the VHV Group (Vereinigte Hannoversche Versicherung). In Germany, the insurance group has branches u. a. in Berlin , Cologne , Munich and Hamburg as well as offices throughout Germany.
2004–2009 - restructuring
In 2004, the special insurer VHV Lebensversicherung AG was founded, which has specialized in pension solutions in company pension schemes and GGF supply in the construction sector. As a result of restructuring after the merger, VHV solutions GmbH was founded in 2005, which takes on IT and back office tasks. The group parent company, VHV Vereinigte Hannoversche Versicherung, continues to adhere to the legal form of a mutual association , which is why profits u. a. are used to strengthen the substance of the company and goals are not geared towards short-term shareholder value. Due to its capital strength, the VHV Group received an A rating with a positive outlook from Standard & Poor’s in 2016 , before the rating was raised to A + in April 2017. This makes the insurance group the first insurance group in Germany since 2014 whose credit rating has improved.
In 2006, Wave Management AG, founded in Hamburg, was taken over, which has since taken over asset management for the VHV Group as an in-house service provider. Wave Management AG also provides services for institutional third-party customers such as small and medium-sized insurance companies, pension funds, pension funds and foundations. In order to enter the direct insurance market with greater coverage, Hannoversche Direktversicherung AG was founded and since autumn 2007 it has also been selling motor vehicle products directly. In 2007, VHV also founded the Al Ahli Takaful Company in the city of Jeddah in Saudi Arabia as a joint venture with the National Commercial Bank and FWU, which in particular offers Sharia-compliant life insurance.
Due to the growing number of customers and employees, a new building was built at VHV-Platz 1, which was completed in 2009.
Since 2010 - internationalization and digitization
In 2011 the headquarters of Wave Management AG were relocated from Hamburg to the group headquarters in Hanover in order to concentrate business activities. In 2014 the "ThinkFit" project was started with the aim of technically renewing the IT infrastructure and thus creating the conditions for digitization. As part of digitization, VHV was the first large motor vehicle insurer in Germany to introduce a so-called telematics tariff in 2015 . In 2015 the VHV Leben was merged with the Hannoversche Leben. The reason given for the transfer of VHV Leben to HL was high regulatory expenses, which meant that two risk carriers were no longer justified. Since 2017, VHV Allgemeine Versicherung has been a new innovation partner for the “Innovation Lab” of the Insurtech Wefox with the aim of accelerating digitization in the interests of brokers, insurers and customers through joint workshops, the establishment of common standards and the transfer of knowledge.
The VHV has a strong regional concentration in Germany, but at an early stage it sought internationalization in the German-speaking area. In 1973 VAV was founded in Vienna , whereby the VHV Group positioned itself in the Austrian market. The Austrian subsidiary also primarily offers motor vehicle insurance as well as construction and liability insurance. Due to the increasing importance of cross-border construction projects, the insurer is increasingly internationalizing its construction business. To this end, a stake in the Swiss company Nationale Suisse was acquired in 2008 . The company is gradually expanding into other European markets. The group offers insurance cover for construction projects in France. In addition, the VHV Group is expanding in various European markets such as Italy, Spain, Switzerland and Turkey, the Middle East and Asia. The reinsurance company VHV Reasürans was founded in 2015 for the Turkish insurance market . Reinsurance protection is offered in particular for structures such as tunnels or high-rise buildings, energy sources such as solar cells or commercially used buildings such as factories, hospitals or airports.
In 2016, VHV was able to increase its contract numbers in the composite and life sectors for the first time in the company's history to over 10 million contracts. In 2017, Hannoversche Direktversicherung was merged with VHV Allgemeine Versicherung AG with retroactive effect from January 1, 2017 for reasons of increased cost efficiency. At the same time, the largest digitization project in the company's history "go digital" was initiated. In addition, for the first time in the company's history, more than 3 billion gross premiums were earned, of which around a third came from life insurance and two thirds from composite insurance.
Major holdings
The VHV holds direct and indirect interests in various companies. VHV has been a shareholder in E + S Rück since 1995. Since 2000, VHV has held a 25 percent stake in Deutsche Rückversicherung Schweiz AG, a subsidiary of the Deutsche Rück Group. Since 2002 VHV Vereinigte Hannoversche Versicherung has held a stake in the specialist insurance company Extremus Versicherungs AG, which insures terrorism risks. As a shareholder, VHV also has a 34.02% stake in NRV-Rechtsschutz . In 2012, VHV acquired a 40 percent stake in the Turkish insurance broker NART Sigorta in order to open up the Turkish insurance market. VHV has a sustaining membership in the Italian ITAS insurance group , an Italian insurance association, and develops services and products with it, especially for the Italian market.
Business figures for the group (according to HGB)
| year | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group net income (million euros) | 24.7 | 35.7 | 108.9 | 72.7 | 52.6 | 103.8 | 140.1 | 127.8 | 156.1 | 233.3 | 191.8 |
| Gross premiums earned (million euros) | 2,230.1 | 2,330.4 | 2,377.7 | 2,460.5 | 2,624.5 | 2,687.3 | 2,720.9 | 2,871.9 | 3,041.9 | 3,151.2 | 3,244.0 |
| Equity (million euros) | 554.9 | 650.8 | 764.8 | 838.5 | 889.8 | 993.9 | 1,140.6 | 1,265.9 | 1,415.4 | 1,645.1 | 1,836.9 |
| Employees as of December 31 (Number) | 2,686 | 2,880 | 2,796 | 2,713 | 2,704 | 2,798 | 2,897 | 3,010 | 3,090 | 3,202 | 3.233 |
| Number of contracts (in millions) | 8.2 | 8.5 | 8.2 | 8.4 | 9.0 | 9.1 | 9.5 | 10.1 | 10.5 | 10.9 | 11.3 |
Products and sales
The VHV offers u. a. offers various composite insurances in the areas of property, liability, accident and technical insurance and motor vehicle insurance. Renewable energy sources such as private and commercial solar systems are also insured. In addition, bond and credit insurance are sold as well as products to protect against biometric risks and the like. a. Term life insurance and disability insurance as well as legal protection insurance and "cyber insurance". VHV is also the only German insurer to offer ten-year warranty insurance (so-called RC Décennale) under French law. VHV Allgemeine and VHV Reasürans also offer various reinsurance products, e.g. B. Facultative reinsurance covers are offered.
The group sells these products through various distribution channels:
- through the intermediary (VHV Allgemeine Versicherung AG and VAV Versicherungen); Overall, the VHV works with over 14,000 agents.
- via direct sales (Hannoversche)
- via a special sales organization for customers in the construction industry (VHV Allgemeine Versicherung AG and VAV Versicherungen)
In 2015, 2017, 2018 and 2019, VHV was one of the most popular brands among Germans in the insurance category.
legal form
The VHV Group consists of the parent company, VHV a. G. and its subsidiaries. The legal form of the parent is mutual insurance association (VVaG for short). A special feature of this legal form is that the insured persons of the insurance association are themselves the association members. There are no shareholders and therefore no dividends have to be financed. Profits remain in the company or benefit the insured. The VHV subsidiaries are stock corporations (short: AG) whose shares are 100 percent owned by the parent company.
Subsidiaries
VHV is a multi-brand group. The operational insurance business is carried out by the VHV Group companies, which operate independently in clearly defined sub-markets. The following major companies belong 100 percent to the VHV Group:
- VHV United Hannoversche Versicherung a. G.
- VHV Holding AG (controls the strategic development and alignment of the group)
- VHV Allgemeine Versicherung AG
- VHV Lebensversicherung AG (merged with Hannoversche Leben in 2015)
- VHV Reasürans AŞ (reinsurance company), Istanbul
- Hannoversche Lebensversicherung AG
- Hannoversche Direktversicherung AG (merged with VHV Allgemeine Versicherung AG in 2017)
- WAVE Management AG (WAVE Management AG is the capital investment company for the company)
- VHV solutions GmbH (VHV solutions GmbH (formerly: VHV is) handles standardized contract and claims processing within the group)
- VVH Versicherungsvermittlung Hannover GmbH
- Hannoversche-Consult GmbH
- VHV Services GmbH
- VHV Vermögensanlage AG
- VAV Versicherungs-AG, Vienna
- VHV Insurance Pension Fund
- Hannoversche Direktvertriebs-GmbH
- Hanno-Pension-Supply-Management e. V. (VHV support fund)
- Securess Versicherungsmakler GmbH
- Rhein-Ruhr-Vermögensverwaltungsgesellschaft mbH
- Digital Broking GmbH
Foundation, endowment
Since December 1, 2014, VHV has been promoting projects in the fields of education, integration, culture and science in the Hanover region through a foundation. The aim of the foundation is to promote humanity and fairness on the one hand and respect, performance and goal orientation on the other hand in the community in accordance with the corporate values.
management
The chairman of the board has been Uwe H. Reuter since 2003 ; Peter Lütke-Bornefeld has been Chairman of the Supervisory Board since 2014.
Web links
Individual evidence
- ↑ https://www.nordlb.de/de/research/download/1594/direct/
- ↑ https://m.paz-online.de/Nachrichten/Wirtschaft/Digitalstrategie-beschert-VHV-in-Hannover-mehr-Mitarbeiter
- ↑ https://www.vhv-gruppe.de/de/presse/presseinformationen/erverbindes-gesch-ftsjahr-2019
- ↑ Motor insurers in Germany - market shares according to gross premiums | Statistics. In: Statista. Retrieved September 28, 2016 .
- ↑ https://www.nordlb.de/de/research/download/1594/direct/}
- ^ Press releases - VHV Group, insurance group in Hanover. In: www.vhv-gruppe.de. Retrieved November 26, 2016 .
- ↑ Credit insurer before major merger . In: Herbert Frommes Insurance Monitor . December 21, 2005 ( versicherungsmonitor.de [accessed July 9, 2017]).
- ↑ TOP 100 companies in Lower Saxony (Nord / LB). November 2017, accessed on August 29, 2018 (German).
- ↑ https://www.versicherungsjournal.de/markt-und-politik/zehn-versicherungsgruppen-beherrschen-zwei-drittel-des-marktes-133324.php
- ↑ geschichtsbuero.de ( Memento from December 29, 2015 in the Internet Archive )
- ↑ https://www.vhv-bauexperten.de/ueber-uns/referenz
- ↑ vhv.de
- ↑ https://www.vhv-gruppe.de/grp/de/Presse-Presseinformationen_1513.html
- ^ Hannoversche Allgemeine Zeitung, Hanover, Lower Saxony, Germany: Insurance - VHV Group expands market share - HAZ - Hannoversche Allgemeine. In: Hannoversche Allgemeine Zeitung. Retrieved December 1, 2016 .
- ↑ https://www.youtube.com/watch?v=Upqej6jski4
- ^ Neue Presse, Hanover, Lower Saxony, Germany: Good balance sheet for VHV - Rating is like an accolade - NP - Neue Presse. Retrieved May 31, 2017 .
- ↑ https://www.versicherungsbote.de/id/4783008/WGV-Hannoversche-Lebensversicherung-Bestandsstornoquote-map-report/
- ↑ handelsblatt.com
- ↑ vhv.de
- ↑ http://www.asscompact.de/nachrichten/bonit%C3%A4tsrating-der-vhv-gruppe-positiver-ausblick-von-standard-poor%E2%80%98s
- ^ Strategy - VHV Group, insurance group in Hanover. In: www.vhv-gruppe.de. Retrieved September 26, 2016 .
- ^ Press releases - VHV Group, insurance group in Hanover. Retrieved February 26, 2017 .
- ↑ https://www.vhv-gruppe.de/grp/de/Presse-Presseinformationen_1635.html?varchunk=1&year=&lastHalfYear=true&sortorder=desc&tab=
- ↑ wave-ag.de
- ↑ wave-ag.de
- ↑ https://www.openpr.de/news/145802/FWU-Gruppe-Erverbindlicher-Boersenstart-der-Al-Ahli-Takaful-Company-in-Saudi-Arabien.html
- ^ VHV insurance, Hanover - WITTE . In: WITTE . September 17, 2012 ( witte-projektmanagement.de [accessed on March 26, 2017]).
- ↑ https://www.wave-ag.de/private-anleger/unser-unternehmen/historie?audience=set
- ↑ https://www.vhv-gruppe.de/grp/files/2018-06-08%20Statements%20BPK%20VHV%20Gruppe.pdf
- ↑ versicherungsbote.de
- ↑ versicherungswirtschaft-heute.de ( memento of the original from September 3, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Finevision and Media Pilot for Cash.Online http://www.cash-online.de : Wefox and VHV cooperate . In: Financial news on Cash.Online . ( cash-online.de [accessed on May 27, 2017]).
- ↑ vav.at
- ↑ http://www.versicherungsjournal.de/unternehmen-und-haben/vhv-schracht-standbein-in-der-schweiz-98338.php
- ↑ http://www.haz.de/Nachrichten/Wirtschaft/Niedersachsen/Gute-Lage-am-Bau-fuellt-die-VHV-Kasse
- ↑ hurriyetdailynews.com
- ↑ haz.de
- ↑ http://www.tagesspiegel.de/advertorials/ots/vhv-gruppe-vhv-gruppe-waechst-im-geschaeftsjahr-2016-in-allen-geschaeftsfeldern-digitalisierung-mit-nachdruck-vorangritten/19719836.html
- ↑ http://versicherungswirtschaft-heute.de/unternehmen-management/vhv-gruppe-verschmilzt-komposittäure/
- ↑ https://nw-ihk.de/2017/12/vhv-investiert-in-digitalisierung/
- ↑ http://www.neuepresse.de/Nachrichten/Wirtschaft/Uebersicht/VHV-investiert-so-viel-wie-nie
- ↑ OTS: VHV Gruppe / VHV Gruppe grows in the 2017 financial year in all ... - boerse.de . In: boerse.de . ( boerse.de [accessed on June 9, 2018]).
- ↑ es-rueck.de
- ↑ https://www.deutscherueck.de/fileadmin/files/Geschaeftsbericht_2016_DR_Swiss.pdf
- ↑ http://www.extremus.de/index.php/ueber-uns
- ↑ http://www.boerse.de/nachrichten/OTS-Neue-Rechtsschutz-Versicherungsgesellschaft-AG-NRV-mit-veraendertem-/7786787
- ↑ in.reuters.com
- ↑ suedtirolnews.it ( Memento from June 17, 2016 in the Internet Archive )
- ↑ vhv.de
- ↑ https://www.vhv-partner.de/magazin/2014/03/decennale
- ↑ versicherungsmagazin.de
- ↑ https://www.handelsblatt.com/unternehmen/management/ranking-tradition-gewinnt-das-sind-die-marken-des-jahres/25162628.html?ticket=ST-22946468-1kPlPwLsHfol49c2g3KC-ap6
- ↑ http://www.asscompact.de/nachrichten/marken-des-jahres-die-top-5-der-versicherer-und-banken
- ↑ Advertise & Sell: W&V: These are the Germans' most popular brands in 2015. In: www.wuv.de. Retrieved September 26, 2016 .
- ↑ http://www.handelsblatt.com/unternehmen/management/die-marken-des-jahres-2017-alle-ategor-und-platzierungen/20508468-2.html
- ↑ vhv-gruppe.de
- ↑ procontra-online.de
- ↑ sigortacigazetesi.com.tr
- ↑ http://versicherungswirtschaft-heute.de/unternehmen-management/vhv-gruppe-verschmilzt-komposittäure/
- ↑ vhv-gruppe.de (PDF).
- ↑ hannoversche.de
- ↑ https://nw-ihk.de/2019/12/vhv-geschaeftsjahr-2019/
- ↑ vhv-gruppe.de
- ↑ vhv-gruppe.de
Coordinates: 52 ° 24 ′ 5.8 " N , 9 ° 45 ′ 57.6" E