Verti insurance

from Wikipedia, the free encyclopedia
Verti Insurance AG

logo
legal form Corporation
founding 1996
Seat Teltow , Brandenburg
management
  • José Ramón Alegre (born 1974, CEO)
  • Christian Paul Sooth (born 1964, board member)
  • Carlos Nagore (born 1968, board member)
  • Jaime Tamayo (Chairman of the Supervisory Board)
Number of employees approx. 550 (08/2019)
Branch Insurance
Website www.verti.de

The Verti Versicherung AG is a direct insurer and, since May 29, 2015 of the Spanish Mapfre Group . Until June 14, 2017 it was called Direct Line Versicherung AG . From 2002 to February 2015 she was part of the UK Direct Line Insurance Group plc.

Exterior facade of the Verti Insurance building in Teltow near Berlin

History of Verti Insurance in Germany

Verti insurance office building in Teltow near Berlin

Verti Versicherung AG, headquartered in Teltow near Berlin in Brandenburg, is one of the largest direct insurers in Germany . The company was on the German market under the name Direct Line from 2002 under the red telephone and offers car and motorcycle insurance as well as traffic legal protection insurance as well as private liability and private legal protection insurance. Before that, the company was active in the German insurance market as Allstate Direct (1996 to 2002).

Until 2013, the Direct Line Insurance Group was part of the Royal Bank of Scotland (RBS). On March 12, 2013 it was announced that RBS had given up its majority stake in Direct Line by selling 15.3 percent of its shares. In October 2012, RBS had already sold 30 percent of its shares. In 2014, RBS parted with the last shares in the Direct Line Insurance Group.

The old brand name "Direct Line" goes back to the British Direct Line, which was founded in 1985 in Great Britain . Direct Line UK, headquartered in Croydon and meanwhile in Bromley, has developed into the largest direct insurer on the British motor vehicle insurance market.

In 2015, the Spanish insurance company MAPFRE completed the acquisition of Direct Line in Germany and Italy after approval by the regulatory authorities in both countries and the competent authorities of the European Union.

Board of Directors and employees

The company is led by the extended board around the chairman of the board, José Ramón Alegre. His predecessors were David Stachon (2012 to 2016), Uwe Schumacher (2008 to 2012) and Albrecht Kiel (2003 to 2008). Direct Line Versicherung AG currently employs around 400 people.

Products

In 2002 Direct Line started selling motor vehicle insurance products (motor vehicle liability, partially comprehensive and fully comprehensive insurance, as well as insurance and motor vehicle accident insurance) and for the first time in Germany offered the second car tariff to classify a second car in the no-claims class of the first car, even if the first car was not insured with Direct Line. In 2005, Direct Line expanded its product range to include traffic legal protection insurance, followed by private legal protection and personal liability insurance in 2006 and motorcycle insurance in 2007.

Types of insurance 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
Motor vehicle liability insurance 567.379 466.235 439.285 413.908 381.223 401.131 297.179 280.330 247,683 222.240 - -
Other vehicle
insurance (comprehensive insurance)		 441,449 365.424 348,880 328,869 302.964 308.328 228.243 214.091 182.196 160.228 - -
Other insurance
(e.g. assistance, accident insurance, legal protection)		 116,370 99,515 94,763 91,337 82,818 79,743 78.964 69,727 84,722 91,605 - -
Total insurance portfolio 1,125,198 931.174 882.928 834.114 767.005 789.202 604.386 575.148 515.301 474.073 403.095 332.103

Sales and Cooperations

Verti sells its motor vehicle insurance products as a direct insurer via telephone, internet and sales partnerships. Direct Line has consistently built up sales partnerships since 2004. Strategic partner industries are the automotive industry, insurance brokers, insurance marketplaces and selected partnerships in the finance and insurance industry.

Business figures

Since the start on the red telephone in 2002, Direct Line had grown double-digit in the highly competitive motor vehicle insurance market in Germany. The premium income in 2002 was a good € 60 million.

In the 2007 financial year, the company achieved profitability under the International Financial Reporting Standards (IFRS) with premium income of € 117.4 million and a balanced result of € 0.1 million . At the end of 2007, the insurance portfolio in the most important motor line amounted to around 297,000 vehicles.

In 2008 Direct Line took over the car insurance portfolio of the competitor Ontos Direktversicherung of the RheinLand insurance group , which had an annual premium income of around € 30 million with around 80,000 insured vehicles. The motor vehicle insurance contracts were integrated into the company's own portfolio. In 2008, Direct Line's premium income amounted to € 128 million, and the pre-tax profit for the year improved to € 0.3 million. The motor insurance portfolio at the end of 2008 was 401,131 vehicles.

In 2010, the direct insurer achieved the profit zone for the first time according to commercial accounting (HGB). With gross premium income of 150.6 million euros, a profit of 0.7 million euros was generated before the profits were transferred. In 2011 Direct Line recorded an increase in profits according to HGB to 2.2 million euros; for 2012, the result from normal business activity doubled to 4.4 million euros.

In the 2013 financial year, with a profit of 5.1 million euros, the result from normal business activities was improved again and rose to 5.4 million euros in the 2014 financial year; In 2015, however, a loss of 2.5 million euros was achieved.

year Premium income
2002 63 million euros
2003 77 million euros
2004 92 million euros
2005 103 million euros
2006 114 million euros
2007 118 million euros
2008 128 million euros
2009 140 million euros
2010 151 million euros
2011 162 million euros
2012 171 million euros
2013 216 million euros
2014 250 million euros
2015 277 million euros

Memberships

  • German Direct Marketing Association eV, Wiesbaden

Italy

The Italian Direct Line, based in Milan , has been a subsidiary of the Mapfre Group since May 2015. Direct Line Italy has been on the market since 2002 and is the second largest Italian direct vehicle insurer.

Web links

supporting documents

  1. ↑ a b c d " The first 5 years: Direct Line on the road to success (PDF; 1.4 MB)", Direct Line image brochure, 2008
  2. ↑ Direct Line takes over vehicle inventory from Ontos Versicherung , Direct Line press release from June 25, 2008
  3. ↑ MAPFRE completes the acquisition of Direct Line in Germany and Italy . In: presseportal.de . ( presseportal.de [accessed on May 19, 2017]).
  4. ↑ Direct Line reaches profitability , Direct Line press release from June 4, 2008
  5. ↑ Direct Line acquires automotive policies from Ontos. Börsen-Zeitung of June 26, 2008, p. 4.
  6. ^ Annual report 2008 of Direct Line Versicherung AG , Direct Line, 2008, PDF for download
  7. ↑ Direct Line Insurance reaches breakeven point , Direct Line press release of July 28, 2011
  8. ↑ Direct Line Annual Report 2012
  9. ↑ Press release Annual Report 2013 from Direct Line, June 26, 2014
  10. ↑ Direct Line: Annual report for the financial year January 1, 2015 to December 31, 2015. (PDF) Accessed on May 21, 2018 .
  11. ↑ http://www.directline.it/

Coordinates: 52 ° 24 ′ 0.5 ″  N , 13 ° 14 ′ 47.7 ″  E