Founded 2003 | ||
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Parent organization VHV Vereinigte Hannoversche Versicherung a.G. | ||
VHV Group (in German: Vereinigte Hannoversche Versicherung) is a German insurance and reinsurance company based in Hanover, specialising in provision non-life and life insurance as well. The essential insurance companies, which belong to the VHV group are founded in 1875 and 1919 as mutual insurance companies. Each brand consists of independent companies. Today VHV Group operates primarily in Europe, Middle East and East Asia and especially in Germany, Switzerland, Italy, France, Austria and Turkey. VHV is one of the twenty most important insurance companies in Germany, the leading german insurance company in the construction sector and one of the five major car insurance companies in Germany. VHV Group owns a network of subsidiaries, branches (e.g. Hamburg, Munich, Berlin) and representative offices with a total staff of roughly 3,000. In 1973 VHV Group founded a subsidiary named VAV in Vienna. Since 2012 VHV Group has had a liaison office in Turkey for 3 years, which has resulted in experience and overview regarding turkish insurance market. In 2006 VHV acquired the Wave Management AG headquartered in Hamburg,which carries out the group´s asset management. In 2015 VHV-Group founded a reinsurance company, VHV Reasürans AŞ, in Istanbul to enter the turkish insurance market. Due to the earning power of the VHV-Group and its capitalization level Standard and Poor´s considers to raise the rating on A+ Level. The Group’s asset management company, WAVE Management Inc., invests the funds that are generated by the insurance companies. VHV solutions is the central service company of the Group and is responsible for claims settlement and contract handling.
Contents
Subsidiaries
Main Subsidiaries of the group include:
Products
VHV provides various composite insurance in the areas of property, liability, casualty and technical insurance as well as motor vehicle insurance. Moreover credit insurance are sold. Further VHV is the only german insurance company, which offers a ten-year warranty insurance (R.C. Décennale) according to french law. VHV Versicherungen’s main sales channels are brokers/agencies as well as specialized inhouse sales force for their clients from the construction industry.
Management
The Chairman of the VHV Group has been Uwe H. Reuter since 2003. The Chairman of the Supervisory Board has been Peter Lütke-Bornefeld since 2014.
Foundation
Since December 1 2014 a VHV Foundation promotes projects in the fields of education, integration, culture and science.