Generali SpA

    premises & global services


    In Germany, Generali Deutschland is the second insurance group in terms of total premium income, with € 16.2 billions of written premiums and a total operating result of € 847 million.

    Figures as at December 31, 2016


    Key Events in Germany

    Key Events in Germany

    In Germany, Generali Deutschland is the second insurance group in terms of total premium income. Its market share is 5.6% in the P&C segment and 10.2% in the life segment (also including the healthcare business), and is particularly well positioned in the unit-linked and protection business lines, in hybrid products, corporate pension plans and in the direct channel.

    In 2016 Generali Deutschland continued the strategic repositioning aimed at implementing different initiatives to strengthen its position by leveraging its strong multi-channel presence, the simplified and market focused approach, a new business model in the life segment, as well as through the launch of innovative and smart products and of services and processes focusing on the specific customer needs.

    Thanks to the strategic repositioning on German market started in May 2015, governance in Generali Deutschland has been strongly revised and made more efficient.

    The local holding, whose headquarter wad based in Cologne, organizationally speaking has been integrated with the two main business units - Generali Versicherung (P&C) and Generali Leben (life) located in Munich - becoming the new Generali Deutschland AG. With the realignment of the different  Group companies’ board of directors and the creation of a matrix management structure, Generali in Germany is continuously oriented towards agile governance.

    The product range is built on the following three pillars:

    • Generali as a multi-channel life and P&C insurer, mainly relying on agents and brokers as to the distribution;
    • AachenMünchener, leader in unit-linked products with a successful partnership with DVAG, representing the strongest financial consultant network in Germany;
    • CosmosDirekt as first direct insurer and leader in term-life products. Central, Advocard, Dialog and Badenia also guarantee tailored insurance solutions for customers and more agile sales channels at country level.

    July saw the launch of Vitality, an innovative programme combined with life policies, particularly term life and professional disability, in order to promote healthy lifestyles.

    Group structure

    Group structure

    Group companies

    • Generali in Germany has strong focus on innovation, digitization and smart insurance
    • Telematics, Vitality and Domotics products successfully launched to the market
    Group companies

    Generali Versicherungen (

    • Company headquartered in Munich, resulting from the merger of Generali Versicherungen and Volksfürsorge
    • One of the market leaders in corporate pensions and first company to successfully launch Vitality products to the market
    • Strong competitive position in the traditional distribution channels, relying on almost 3,000 full-time agents (self-employed and employed), about 30,000 part-time sellers and 12,000 brokers
    Group companies

    Aachen Münchener (

    • Focus on Life business (approx. 80% of total gross written premiums)
    • Ranking number 3 in Life market
    • One of the market leaders in Riester pensions and in Unit-Linked business
    • Exclusive distribution agreement with Deutsche Vermögensberatung (DVAG), the biggest autonomous financial sales organization in Germany with more than 3,400 agencies.
    Group companies

    CosmosDirekt (

    • Focus on Life business (approx. 90% of the gross written premiums)
    • Market leader in term Life insurance
    • The main direct insurance company in the German market, expanding online services and combining them with personal advice
    Group companies

    Central Krankenversicherung (

    • The company of Generali in Germany specialised in Health business
    • One of the main private players in the German Health sector as for premium income, with more than 1,6 million clients
    • The first Health insurance company to issue shares, in 1913
    Group companies

    Advocard Rechtsschutzversicherung (

    • One of the leading companies in the German Legal Protection market
    • Products are sold through all Generali in Germany distribution channels
    Group companies

    Dialog Lebensversicherungs-AG (

    • Company specialised in biometric risks (term life, professional disability, Unit-Linked pension products)
    • Its products are sold by brokers
    • Strong growth in the last years, thanks to the high level of expertise and to the excellent customer service
    Group companies

    Deutsche Bausparkasse Badenia (

    • One of the first private German "Bausparkassen" (homeloans banks/real estate saving companies) in terms of portfolio contract sum
    • It has near 1 million clients over the whole German territory, to whom it offers real estate financing
    • It relies on an important distribution agreement with DVAG