List of Insurance Companies in Germany – This article is a look at the Insurance Sector in the country of Germany. We shall list out the insurance companies that are currently in operation in Germany, and then give an overview of the Insurance business as it operates in Germany. But first, let us give a breakdown of insurance itself as a business.
Insurance is a contract between a person and an organization in which the organization undertakes to cover a specified risk whether it may be imminent or a possible risk. That contract is called a policy, the person who buys the policy is called a policyholder, and the organization that promises to pay for the risk is the Insurance Company. We must not forget that the money the policyholder pays is called the Premium.
List of Insurance Companies in Germany
- AXA XL Germany Insurance
- Allianz Insurance
- Arag SE
- Deutsche Afrika-Linien/John T. Essberger Group of Companies
- Ergo Insurance
- Generali Deutschland
- Gothaer Insurance
- Hamburger Freukesse Insurance
- Hannover Re
- Company Name: LV 1871
- Company Name: Munich Re
- Popsure
- G. & J. E. Pinckernelle
- Signal Iduna
- Talanx
- VHV Group
- Wüstenrot & Württembergische
Contact Details Of Insurance Companies In Germany
- AXA XL Germany Insurance
- Company Location: Kranhaus 1, Im Zollhafen 18, 50678 Köln Germany
Company Phone: +49 221 16 887 0
Fax Number: +49 221 16887 10
- Company Location: Kranhaus 1, Im Zollhafen 18, 50678 Köln Germany
- Allianz Insurance
- Company Address: Fritz-Schäffer-Straße 9, 81737 München, Germany
Company Phone: +49 89 203051000
Company Website: https://www.allianz.com
- Company Address: Fritz-Schäffer-Straße 9, 81737 München, Germany
- Arag SE
- Company Address: ARAG Platz 1 Dusseldorf, 40472 Germany.
Company Phone: +49-211-963-3535
Corporate headquarters: Düsseldorf, Germany
Company Website: www.arag.com
- Company Address: ARAG Platz 1 Dusseldorf, 40472 Germany.
- Deutsche Afrika-Linien/John T. Essberger Group of Companies
- Industry of specialization: Shipping, Maritime insurance
Founded 1924
Headquarters Hamburg, Germany
Company Website: www.rantzau.de/
- Industry of specialization: Shipping, Maritime insurance
- Ergo Insurance
- Founded 1997
Company Headquarters: Düsseldorf, Germany
Parent/ Holding Company: Munich Re
Company Website: www.ergo.com
- Founded 1997
- Generali Deutschland
- Company Headquarters: Munich, Germany
Company Type: Public
Industry of Specialization: General Insurance
Company Founded: 1979
Parent (Holding) Company: Assicurazioni Generali
Company Website: www.generali-deutschland.de
- Company Headquarters: Munich, Germany
- Gothaer Insurance
- Company Headquarters: Cologne, Germany
Company Structure: Mutual insurance society
Industry: General Insurance
Company Founded: 2 July 1820
Company Website: www.gothaer.de
- Company Headquarters: Cologne, Germany
- Hamburger Freukesse Insurance
- Headquarters Hamburg, Germany
Industry of specialization: Property and Fire Insurance
Company Founded: November 30, 1676
Company Website: http://www.hamburger-feuerkasse.de/
- Headquarters Hamburg, Germany
- Hannover Re
- Company Headquarters: Hannover, Germany
Company Structure: Societas Europaea (Cooperative Society)
Industry: Financial services/ Reinsurance Services
Company Established : 1966
Company Website: www.hannover-re.com
- Company Headquarters: Hannover, Germany
List Of Insurance Companies In Germany
- Company Name: LV 1871
- Company Headquarters: Munich, Germany
Industry Primary insurers/ retirement savings, investments
Founded 1871
Company Website: www.lv1871.de/lv
- Company Headquarters: Munich, Germany
- Company Name: Munich Re
- Founded 3 April 1880
Germany Headquarters: Munich, Germany
Industry of specialization: Reinsurance
Company Website: www.MunichRe.com
- Founded 3 April 1880
- Popsure
- Industry: Advisory for Foreign Nationals in Germany
Office Telephone: 0176-71229120
Company Website: https://getpopsure.com
- Industry: Advisory for Foreign Nationals in Germany
- G. & J. E. Pinckernelle
- Address: Reimerstwiete 18, 20457 Hamburg, Germany
Company Phone: +49 40 3786720
Industry of specialization: Financial services
Company Founded: 1999
- Address: Reimerstwiete 18, 20457 Hamburg, Germany
- Signal Iduna
- Headquarters: Address: Strobelallee 50, 44139 Dortmund, Germany
Products Insurance, banking, investments, health insurance, car insurance, etc.
Company Website: www.signal-iduna.com
- Headquarters: Address: Strobelallee 50, 44139 Dortmund, Germany
- Talanx
- Company Address: ProACTIV-Platz 1, 40721 Hilden, Germany
Company Phone: +49 2103 345100
Company Website: https://www.talanx.com
- Company Address: ProACTIV-Platz 1, 40721 Hilden, Germany
- VHV Group
- Industry: Insurance, financial services: employee entitlements, retirement savings
Company Headquarters: Hannover, Germany
Company Website: https://www.vhv-gruppe.de/
- Industry: Insurance, financial services: employee entitlements, retirement savings
- Wüstenrot & Württembergische
- Founded 1999
Headquarters Stuttgart, Germany
Products Insurance, banking, investments
Company Website: www.ww-ag.com
- Founded 1999
Some Of The Types Of Insurance In Germany are:
Fire Insurance – In the case of fire insurance the insurance company (also called the insurer) undertakes to cover the cost of repair or replacement of the policy holder’s property that is damaged as a result of fire outbreak probably at his home or his business premises.
Motor Insurance – This is also called Car insurance, in this kind of insurance, the Insurance company undertakes to pay for the cost of repairs should any damage be done to the policy holder’s car.
Third-Party Motor Insurance – This is a kind of vehicle insurance in which the focus is not on the policy holder’s car or vehicle, but instead, on the pedestrians, or other drivers, who may sustain injury or damage to property as a result of the policy holder’s use of a motor vehicle.
Life Insurance – Perhaps more aptly described as death insurance, this is a kind of insurance policy in which the insurance company undertakes to pay a specified amount of money to the family members or any other nominated beneficiaries of the policy holder.
There are many other kinds of insurance, but we will stop here for now.
Please bear in mind that we are not in any way affiliated with any of the companies listed below. The information contained below is not investment advice. Please consult your solicitor, financial planner, or any other investment professional before doing business with anybody.
Overview of insurance in Germany
People of Germany take insurance quite seriously. There are many different forms of insurance which are offered by many different insurance companies, and they cover perhaps every risk you can think of. Because some kinds of insurance is mandatory by law (we shall to this later), it can sometimes lead to newcomers in the country either being under-insured or over-insured, because they cannot usually figure out how much insurance they need.
The German insurance sector is regulated by the agency known as the Federal Financial Supervisory Authority (BaFin) and most of the insurance companies belong to the German Insurance Association (Die Deutschen Versicherer – GDV), which is an umbrella body of the Insurance Stakeholders. The association has around 460 members, including, Brokers, agents, and other players in the Insurance Market.
Which Insurance In Germany Is Mandatory?
- Health insurance
Health insurance (which is Krankenversicherung in German) is compulsory in Germany if you live or work there. There are options of public and private health insurance, both of which exist side by side.
You will be automatically covered by state health insurance ( called Gesetzliche Krankenversicherung – GKV) if you work in Germany and if you make between €4,950 and €59,400 a year before tax, the exception being if you are self-employed. GKV also usually includes nursing care insurance ( which is called Pflegepflichtversicherung). Employers in Germany are mandated to cover half of the health insurance costs (excluding the supplementary charge) and the maximum contribution is €323.03 a month for health care and another €56.42 a month for nursing care.
- Family-Insurance Policy
Private health insurance (called private Krankenversicherung – PKV in Germany) is the option for those who are not entitled to the government’s GKV and also those who would prefer to take out a private plan due to convenience.
- Work-Related Insurance
If you work in Germany, you will automatically pay towards a few additional forms of insurance besides health insurance, whether you know it or not. You do so through social security contributions ( which is called sozialversicherungsbeiträge). Some of the insurance policies you pay for are:
- Unemployment insurance ( called Arbeitslosenversicherung)
In this policy, the payments are split between employer and employee. The purpose of this is to provide you with unemployment benefits if the day should come when you are out of work and meet certain criteria.
- Statutory Pension Insurance ( called Rentenversicherung)
This is the German state pension. You and your employer make a joint payment into a bourse which is saved up for your retirement.
Statutory Accident Insurance ( called Gesetzliche Unfallversicherung in German)
This is completely paid by the employer and is intended to cover treatment costs for work-related accidents or illnesses that may occur to the worker.
- Vehicle insurance
Car insurance ( which is called Kfz Versicherung or Autoversicherung in German) is mandatory for all drivers in Germany. By drivers, we do not mean only people who drive or operate cars or motor vehicles professionally for a living, but anybody who sits behind the steering wheel of a motor vehicle. You need to show proof of an up-to-date car insurance policy in order to register a car in Germany and so get a valid license plate. Car insurance in Germany is divided into these three types:
- Third-party liability
(which is called Haftpflicht) – this is the minimum legal requirement, covering all damage to third parties (pedestrians and other vehicles) in the event of an accident. However, this policy doesn’t cover damage to your own vehicle if the accident occurred due to a fault or mistake on your part.
- Partial Coverage
(which is called Teilkasko) – this kind of insurance covers third party liability including damages to your vehicle, which is caused by such things like theft attempts, damage as a result of fire, and also damage caused by a storm, etc..
- Comprehensive Coverage
(Which is called Vollkasko) –This kind of insurance covers everything we have discussed above. That is damage to third parties, damage to your own vehicle as a result of theft or fire, and even damage to your vehicle, even in cases where the accident was as a result of a mistake or fault on the part of the policy holder.
In Germany, Insurance costs go higher in line with the amount of coverage you choose to get, and they also depend on several factors which include the age of applicant, driving experience, driving record and cost/ value of your vehicle to be insured.
Some insurance companies in Germany, similar to many other countries, operate something called a “no claims bonus” that system means that insurance costs reduce the longer you go without having an accident which makes you file a claim.
Interestingly, if you move to Germany and bring in a vehicle from abroad (your home country), you may still be able to use your existing insurance policy for a limited period of time (consult your insurer about this feature).
That’s all about List of Insurance Companies in Germany.
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Tag: german health insurance companies, List of Insurance Companies in Germany
Related
FAQs
What kind of health insurance do they have in Germany? ›
There are three options for health insurance while living in Germany: the government-regulated public health insurance system (Gesetzliche Krankenversicherung, GKV) private health insurance from a German or international insurance company (Private Krankenversicherung, PKV) or a combination of the two that supplements ...
What is health insurance in German? ›Useful German healthcare words:
Gesetzliche Krankenversicherung = Statutory public health insurance. Krank = Sick. Krankenkassen = Non-profit associations that administer public healthcare insurance, like Techniker Krankenkasse (TK)
The cost of insurance depends on the type of car, the value of the car, your driving experience, and many other things. In general, you will pay 100€ to 1,000€ per year. There are many ways to pay less for car insurance. Car insurance payments come directly from your bank account.
How many insurances are there in Germany? ›There are over 100 public health insurers in Germany. TK, AOK and Barmer are the biggest ones.
What is life insurance called in Germany? ›In Germany, life insurance is also referred to as risk life insurance, written as Risikolebensversicherung (RLV). It is one of the many types of insurance in Germany, including health insurance for expats or residents, legal insurance, liability insurance, or home insurance.
Do companies provide health insurance in Germany? ›In Germany, you must take out health insurance as an employee. A distinction is made between statutory and private health insurance. These are two different systems and you cannot switch between them freely. Most employees in Germany have statutory health insurance.
Does everyone in Germany have health insurance? ›All residents of Germany are required by law to have health insurance. About 87% of the population – around 70 million people – have statutory health insurance. You can find answers to some of the most common questions about health insurance costs, benefits and guiding principles here.
Does German health insurance work in the US? ›Like most countries, health insurance coverage in Germany is based upon residency. The system does not cover you when you move abroad. There is one exception, however. German citizens who sign up for the free European Health Insurance Card or EHIC can enjoy medical services in other participating European countries.
Does Germany have free health insurance? ›Yes, all Germans and legal residents of Germany are entitled to free “medically necessary” public healthcare, which is funded by social security contributions. However, citizens must still have either state or private health insurance, covering at least hospital and outpatient medical treatment and pregnancy.
What are the big 3 insurance companies? ›| Rank | Company | Total assets (US$ Billion) |
|---|---|---|
| 1 | Allianz | 1,261.9 |
| 2 | Axa | 950.6 |
| 3 | Prudential Financial | 940.7 |
| 4 | Ping An Insurance | 883.9 |
What is the number 1 life insurance company in the world? ›
Car insurance is required by law in Germany, just like health insurance, meaning all drivers must have their vehicle insured. As a long-term resident in Germany, you will not be able to register your car, without obtaining car insurance first, and thus you will not be able to drive it either.
What insurances do you need in Germany? ›- Health insurance: Compulsory for everyone who stays in Germany for more than three months.
- Automobile insurance: Compulsory for vehicle drivers in Germany.
- Personal liability insurance: Not compulsory but indispensable for a safe everyday life.
All drivers in Germany must be covered by some form of car insurance. You cannot register a vehicle without it. If you are a long-term resident in Germany, you will need to have German car insurance, even if you brought your car to Germany from abroad; foreign car insurance does not suffice.
What is the best insurance company in Germany? ›The winner is Techniker Krankenkasse
Techniker Krankenkasse offers the best mix of price and service and is leading the score in many tests source. Techniker Krankenkasse is the largest German public health insurer and covers one-eight of the German population with over 10.5 million members source.
By far the German market leader is the Allianz Group, one of the world's largest insurers, followed by the Munich Re Group, which also stands for the world's largest reinsurance business. In third to fifth place are Talanx, R+V Versicherung and Generali Deutschland. The largest private health insurer is Debeka.
Is there life insurance in Germany? ›“Germans have insurance for everything” - that might sound superficial but it is true. German insurance system offers a wide choice of ways to ensure your security be it a household, liability, accident, travel or life insurance. For foreigners, there would also be an option to get a repatriation insurance in Germany.
How much is health care in Germany? ›The majority of people, even international students, will need to register for public healthcare insurance, however, some individuals are eligible to choose a private insurance plan. The cost of healthcare coverage can range from 80 to 1,500 euros per month, depending on your circumstances and insurance premium.
Is health insurance in Germany free? ›Yes, all Germans and legal residents of Germany are entitled to free “medically necessary” public healthcare, which is funded by social security contributions. However, citizens must still have either state or private health insurance, covering at least hospital and outpatient medical treatment and pregnancy.
How much do Germans pay for their health insurance? ›
Cost of public health insurance in Germany for employees: If you are insured with a public health insurance company, you have to pay 14.6% to 15.6% of your salary in contributions per month (you pay half, your employer pays half). The minimum you have to pay is € 180, whereas the maximum is around € 400.
Can I live in Germany without health insurance? ›In Germany, you are required to take out health insurance. We will give you an overview of the types of health insurance and their services. In Germany, you must take out health insurance as an employee. A distinction is made between statutory and private health insurance.
Is healthcare free in Germany for non citizens? ›Public Healthcare
All German residents can access healthcare through public health insurance; however, non-residents must have private insurance coverage to access healthcare. Temporary visitors usually need to pay for treatment and claim reimbursement later.
- Health insurance: Compulsory for everyone who stays in Germany for more than three months.
- Automobile insurance: Compulsory for vehicle drivers in Germany.
- Personal liability insurance: Not compulsory but indispensable for a safe everyday life.
In other words, the higher the income, the higher the rate of tax payable. In 2023 the Germany tax rates for an individual are 14% - 45%. Singles pay on income above EUR 277,825 income tax of 45% before 5.5% solidarity tax and 8%-9% church tax which are imposed on the income tax.
Do companies pay health insurance in Germany? ›Foreigners who choose to live in Germany for longer than 90 days are also required by law to have German health insurance. In Germany, employees enjoy special social security protection which sees employers typically pay half of an employee's monthly health insurance contributions.
Who manages healthcare in Germany? ›Germany has a universal multi-payer health care system paid for by a combination of statutory health insurance (Gesetzliche Krankenversicherung) and private health insurance (Private Krankenversicherung).