The 4 largest insurance companies from Germany - The Science Agriculture (2024)

The 4 largest insurance companies from Germany- According to Annual Report of insurance Companies in 2021, there are 4 Biggest Insurance Companies from Germany. Basically, insurance industries have important role to support the economic conditions of countries. As we has known, German still becomes the largest national economy in Europe and one the largest in the World’s beside United States of America, China, and Japan. As a developed country, German has become well-developed countries with more than 3.8 US Dollar of GDP and population around 84 million of people based on World Bank Database. Mainly, the industries sectors with high-innovative product have driven this country into glorious era.

In Germany, besides his innovative in science, automotive, and technologies, basically Insurance industries in this country has the main role to support the economic. They can support business or customers from the unexpected losses because of natural disaster or accidents. Of all insurance companies in Germany, there are some biggest insurance companies from Germany. Here are the The 4 largest insurance companies from Germany.

The Rank of largest insurance companies from Germany Based on Assets

These rank above was arranged based on the assets that the companies have owned in running the business. Basically, in this article, the company’s data on assets and liabilities was obtained from the annual report of each company in 2021. Theoretically, assets are the tangible and intangible properties that company has owned. Meanwhile, Liabilities are the debts or obligations that company must be paid off in the future.

The Rank of largest insurance companies from Germany Based on Net Income

The rank above was arranged based on net income. Basically, all of these data were obtained from Income statement of Insurance Companies in Annual Report 2021. The revenue and income basically can describe how the company run its business effectively and efficiently. In 2021, the 4 biggest insurance companies from Germany gain the net income.

Brief Description of 4 largest insurance companies from Germany

1.Allianz SE

Allianz is German multinational insurance company that has main office in Munich, Germany. Historically, it was found by Carl Von Thieme on February 5th, 1890. Nowadays, Allianz has 155 thousand of employees across the 70 countries. Overall, they have serves more than 126 million customers all over the world. In 2021, Allianz gained net premium around 53 billion Euros. In Balance sheet of the Allianz in 2021, the company has assets around 1,139 billion Euro / 1,139 billion US Dollar with liabilities around 1,055 billion Euro / 1,055 billion US Dollar. According to Income Statement of the company, Allianz generated Revenue around 122 billion Euro / 122 billion US Dollar and gained Net Income 7.1 billion Euro / 7.1 billion US Dollar

2.Munich RE (Münchener Rück)

Munich Re Group or Munich Reinsurance Company is German multinational insurance company that has main office in Munich, Germany. Historically, this company was found on April 3rd, 1880. Operationally, Munich Re has 39 thousand of employees and net premium earned around 55 billion Euros as of 2021. Based on the Balance sheet in 2021, the company has assets around 312 billion Euro / 312 billion US Dollar with Liabilities around 281 billion Euro / 281 billion US Dollar. According to Income Statement in Annual Report of 2021, the company can generate revenue around 55.2 billion Euro / 55.2 billion US Dollar and Net Income around 2.9 billion Euro / 2.9 billion US Dollar.

3.Hannover Rück

Hannover Re (in German Hannover Rück) is a reinsurance company that has main office in Hannover, Germany. Historically, this company was found in 1966. Operationally, this company has more than 3,000 of employees with gross premium around 27.7 billion Euros. Financially, according to Balance sheet of annual report in 2021, Hannover Rück has assets around 82.9 billion Euro / 82.9 billion US Dollar with liabilities around 70.1 billion Euro / 70.1 billion US Dollar. According to business performance of Hannover Rück in 2021, the company gained revenue around 26 billion Euro / 26 billion US Dollar with Net Income 1.3 billion Euro / 1.3 billion US Dollar.

4.Talanx

Talanx is a German insurance company that has main office in Hannover, Germany. Historically, this company was founded in 1996. Operationally, the company has 23 thousand of employees with gross written premium around 1.1 billion Euros. According to Balance Sheet of Annual Report in 2021, the company has assets around 10.7 billion Euro / 10.7 billion US Dollar with Liabilities around 5.1 billion Euro / 5.1 billion US Dollar. In business performance, the company generated revenue around 1.1 billion Euro / 1.1 billion US Dollar with net Income 495 million Euro / 495 million US Dollar.

Bibliography of The 4 largest insurance companies from Germany

Allianz SE. 2022. Annual Report 2021. Accessed via https://www.allianz.com/en/investor_relations/results-reports/annual-reports.html on June 4^th, 2023.

Munich RE. 2022. Annual Report 2021. Accessed via https://www.munichre.com/en/company/investors/reports-and-presentations/annual-report.html on June 4^th, 2023.

Hannover Rück. 2022. Annual Report 2021. Accessed via https://www.hannover-re.com/199620/results-and-reports on June 4^th, 2023.

Talanx. 2022. Annual Report 2021. Accessed via https://www.talanx.com/en/investor_relations/reporting/financial_reports June 4^th, 2023.

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