Top 10 German Insurance Conglomerates

Munich Re is the world's largest reinsurer, founded in Munich in 1880 and reporting €67B in gross written premium for 2024. It operates the ERGO Group as its primary insurance subsidiary and employs 43,000 across 50 countries. Munich Re's Solvency II ratio was 277% — the highest among global top-10 reinsurers — with a net profit of €4.6B in 2024. Its climate analytics division pioneered probabilistic natural catastrophe modelling, making it the industry standard for European flood and windstorm risk pricing.

Munich Re

Talanx AG is Germany's 3rd-largest insurance group with €50B+ in gross written premium in 2024, operating through the HDI, Hannover Re (50.2% ownership), and Warta brands. Founded in 1996 as the holding company for HDI, it is 79% owned by HDI Haftpflichtverband, a mutual association. Its 2024 group net income reached €1.9B. Talanx's Industrial Lines division is the #2 industrial insurer in Europe, insuring 40% of DAX-listed companies.

Talanx AG / HDI

R+V Versicherung is Germany's largest cooperative insurer, generating €21B in gross written premium in 2024. Owned by DZ Bank (the central cooperative bank) and distributed through 1,200+ Volksbank and Raiffeisenbank branches, R+V reaches 8.2 million German customers. Its Solvency II ratio was 248% in 2024. R+V's agricultural insurance segment holds 50%+ of the German crop insurance market, making it the backbone of German farming risk protection.

R+V Versicherung

Signal Iduna is a German mutual insurance and financial services group with €7.6B in total revenues in 2024, operating primarily in health, accident, and life insurance. Formed in 2000 through the merger of Signal Versicherungen and Iduna-Gruppe, it employs 8,800 and serves 7 million policyholders. Its private health insurance division holds 6% of the German PKV (private health insurance) market. Signal Iduna's Solvency II ratio stood at 224% in 2024.

Signal Iduna

Debeka is Germany's largest private health insurer and one of its largest mutuals, reporting €9B in premium income in 2024 with 7.1 million insured persons. Founded in Koblenz in 1905 for civil servants, it has maintained its mutual status and distributes exclusively through its 17,500 salaried sales representatives. Debeka's Solvency II ratio was 402%, the highest of any major German insurer, reflecting its ultra-conservative investment strategy. It holds 11% of Germany's PKV market.

Debeka

HUK-COBURG is Germany's largest motor insurer with €9B in GWP and 13.4 million customers in 2024, holding 22% of the German private motor market. Founded in 1933 in Coburg as an insurer for civil servants, it operates as a mutual association and offers Germany's consistently lowest-priced motor premiums. Its combined ratio was 95.8% in 2024 despite significant flood and hail losses. HUK24.de is Germany's most-visited direct insurance website with 4.3 million digital customers.

HUK-COBURG

Gothaer is one of Germany's oldest mutual insurance groups, founded in Gotha in 1820 and reporting €4.7B in premium income in 2024 with 4.2 million members. It operates through Gothaer Lebensversicherung, Gothaer Krankenversicherung, and Gothaer Allgemeine, covering life, health, and P&C lines. Its Solvency II ratio was 223% in 2024. Gothaer's SME commercial insurance business grew 14% YoY as Germany's Mittelstand sector increased property and liability coverage after the 2021 Ahr Valley floods.

Gothaer

DEVK (Deutsche Eisenbahn-Versicherung) was founded in 1886 to insure railway workers and today covers 4.1 million policyholders with €4.5B in GWP in 2024. It remains closely affiliated with German trade unions (ver.di) and distributes through workplace channels. DEVK's motor insurance portfolio grew 11% in 2024 driven by competitive telematics-based pricing. Its Solvency II ratio stood at 231%, and it returned €120M in surplus sharing to policyholders in 2024.

DEVK

ERGO Group is the primary insurance subsidiary of Munich Re, operating as Germany's 2nd-largest primary insurer with €20B in GWP across Germany and 30 international markets in 2024. It serves 40 million customers globally through ERGO, DAS Legal Insurance, and KarstadtQuelle Insurance brands. ERGO's digital portal MyERGO processes 70% of German retail claims without human intervention. Its 2024 combined ratio for German P&C lines was 96.2%, reflecting pricing discipline and telematics adoption.

Ergo Group

Munich Re is the world's largest reinsurer, founded in Munich in 1880 and reporting €67B in gross written premium for 2024. It operates the ERGO Group as its primary insurance subsidiary and employs 43,000 across 50 countries. Munich Re's Solvency II ratio was 277% — the highest among global top-10 reinsurers — with a net profit of €4.6B in 2024. Its climate analytics division pioneered probabilistic natural catastrophe modelling, making it the industry standard for European flood and windstorm risk pricing.

Munich Re

Talanx AG is Germany's 3rd-largest insurance group with €50B+ in gross written premium in 2024, operating through the HDI, Hannover Re (50.2% ownership), and Warta brands. Founded in 1996 as the holding company for HDI, it is 79% owned by HDI Haftpflichtverband, a mutual association. Its 2024 group net income reached €1.9B. Talanx's Industrial Lines division is the #2 industrial insurer in Europe, insuring 40% of DAX-listed companies.

Talanx AG / HDI

R+V Versicherung is Germany's largest cooperative insurer, generating €21B in gross written premium in 2024. Owned by DZ Bank (the central cooperative bank) and distributed through 1,200+ Volksbank and Raiffeisenbank branches, R+V reaches 8.2 million German customers. Its Solvency II ratio was 248% in 2024. R+V's agricultural insurance segment holds 50%+ of the German crop insurance market, making it the backbone of German farming risk protection.

R+V Versicherung

Signal Iduna is a German mutual insurance and financial services group with €7.6B in total revenues in 2024, operating primarily in health, accident, and life insurance. Formed in 2000 through the merger of Signal Versicherungen and Iduna-Gruppe, it employs 8,800 and serves 7 million policyholders. Its private health insurance division holds 6% of the German PKV (private health insurance) market. Signal Iduna's Solvency II ratio stood at 224% in 2024.

Signal Iduna

Debeka is Germany's largest private health insurer and one of its largest mutuals, reporting €9B in premium income in 2024 with 7.1 million insured persons. Founded in Koblenz in 1905 for civil servants, it has maintained its mutual status and distributes exclusively through its 17,500 salaried sales representatives. Debeka's Solvency II ratio was 402%, the highest of any major German insurer, reflecting its ultra-conservative investment strategy. It holds 11% of Germany's PKV market.

Debeka

HUK-COBURG is Germany's largest motor insurer with €9B in GWP and 13.4 million customers in 2024, holding 22% of the German private motor market. Founded in 1933 in Coburg as an insurer for civil servants, it operates as a mutual association and offers Germany's consistently lowest-priced motor premiums. Its combined ratio was 95.8% in 2024 despite significant flood and hail losses. HUK24.de is Germany's most-visited direct insurance website with 4.3 million digital customers.

HUK-COBURG

Gothaer is one of Germany's oldest mutual insurance groups, founded in Gotha in 1820 and reporting €4.7B in premium income in 2024 with 4.2 million members. It operates through Gothaer Lebensversicherung, Gothaer Krankenversicherung, and Gothaer Allgemeine, covering life, health, and P&C lines. Its Solvency II ratio was 223% in 2024. Gothaer's SME commercial insurance business grew 14% YoY as Germany's Mittelstand sector increased property and liability coverage after the 2021 Ahr Valley floods.

Gothaer

DEVK (Deutsche Eisenbahn-Versicherung) was founded in 1886 to insure railway workers and today covers 4.1 million policyholders with €4.5B in GWP in 2024. It remains closely affiliated with German trade unions (ver.di) and distributes through workplace channels. DEVK's motor insurance portfolio grew 11% in 2024 driven by competitive telematics-based pricing. Its Solvency II ratio stood at 231%, and it returned €120M in surplus sharing to policyholders in 2024.

DEVK

ERGO Group is the primary insurance subsidiary of Munich Re, operating as Germany's 2nd-largest primary insurer with €20B in GWP across Germany and 30 international markets in 2024. It serves 40 million customers globally through ERGO, DAS Legal Insurance, and KarstadtQuelle Insurance brands. ERGO's digital portal MyERGO processes 70% of German retail claims without human intervention. Its 2024 combined ratio for German P&C lines was 96.2%, reflecting pricing discipline and telematics adoption.

Ergo Group