Nürnberger Versicherung Corporate Profile and Performance

Nürnberger Versicherung is a German insurance company with a rich history dating back to 1899. Founded by 15 entrepreneurs, the company has grown to become one of the largest private insurance companies in Germany.

The company's name, Nürnberger Versicherung, translates to Nuremberg Insurance in English. Nuremberg is a city in Bavaria, Germany, where the company was originally established.

Nürnberger Versicherung's headquarters is located in Nuremberg, Germany. The company has a strong presence in the region, with a significant number of employees and a wide range of insurance products available to customers.

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The Nürnberger Versicherung has a rich history that dates back to 1883, when Lothar Freiherr von Faber applied for a license to establish the company.

This marked the beginning of a long journey that would eventually lead to the company's success.

The application was submitted to the Königlich Bayerische Staatsministerium des Innern, and it wasn't until September 28, 1884, that Innenminister Maximilian Alexander von Feilitzsch granted the license.

The Nürnberger Versicherung is a significant player in the insurance industry, and here are some key statistics that give us an idea of their scope.

They employed an average of 4,383 people in Germany in 2023, with 3,706 of them working in the sales and marketing division.

Their business model relies heavily on a network of over 14,500 agents and brokers, who work in various channels such as exclusivity, real estate, and direct sales.

The company's annual revenue reached 4.36 billion euros in 2023, with a significant portion coming from life insurance premiums.

A substantial 2.2 billion euros of their revenue came from life insurance, while 1.007 billion euros and 301 million euros came from property and casualty insurance, and health insurance respectively.

They have a massive portfolio of around 5.8 million insurance policies in place.

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Nürnberger Versicherung has a strong connection to the city of Nuremberg, where its headquarters are still located.

The company's logo, featuring the silhouette of the Nuremberg Kaiserburg, has been a recognizable symbol since 1928. This iconic logo is accompanied by the slogan "Schutz und Sicherheit im Zeichen der Burg", which has been the company's motto since 1958.

The company's commitment to Nuremberg is evident in its continued presence in the city. In 2000, Nürnberger Versicherung moved into a new Generaldirektion, a significant step in its growth and development.

The Business Tower, located on the eastern city ring, is a striking addition to Nuremberg's skyline. At 135 meters tall and 34 stories high, it's the second-tallest office building in Bavaria.

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Nürnberger Versicherung has a significant international presence, with operations in 13 countries across Europe and Asia.

The company has a strong presence in Central and Eastern Europe, with subsidiaries in countries such as Poland, the Czech Republic, and Hungary.

Nürnberger Versicherung has a significant market share in these countries, with a large customer base and a wide range of insurance products.

The company's international operations are supported by a global network of partners and agents, who provide local expertise and customer service.

Nürnberger Versicherung has a long history of international expansion, dating back to the 1990s when it first entered the Polish market.

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The Nürnberger Versicherung has a rich history of publishing various magazines and books that provide insight into the company's history and operations.

The company's first publication was the Nürnberger Post, a Mitteilungsblatt (newsletter) that was published from 1952 to 1998.

One of the most notable publications is the Hanco Maralt book "Schutz und Sicherheit im Zeichen der Burg. 75 Jahre Nürnberger Lebensversicherung AG. 1884–1959", which commemorated the company's 75th anniversary in 1959.

The company also published a comprehensive history of its 100 years, titled "100 Jahre Nürnberger Versicherungen. 1884–1984", written by Hanco Maralt and Peter Koch in 1984.

This book was later reprinted in 2009, along with another publication "125 Jahre Nürnberger Versicherungsgruppe. 1884–2009", written by Peter Koch, which celebrated the company's 125th anniversary.

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The Nürnberger Versicherung's company values are deeply rooted in its history and commitment to innovation. The company's mission is built around three key pillars: Verlässlich, Unabhängig, and Solide.

The Nürnberger's reliability is evident in its ability to withstand even the most challenging times, including two world wars and numerous economic crises. This resilience is a testament to its adaptability and high employee loyalty.

The company's independence is a key factor in its success, allowing it to stay true to its core values and make decisions that prioritize its customers' needs. This independence has enabled the Nürnberger to innovate and pioneer new products, such as the first product for income protection in 1884, a precursor to the modern-day Berufsunfähigkeits-Versicherung.

The Nürnberger's commitment to solidity is reflected in its financial stability, with a sales volume of around 4.4 billion EUR and a total of 3.5 billion EUR in premium payments. This financial strength allows the company to invest in its customers and employees, creating a loyal community that has stood the test of time.

At Nürnberger Versicherung, you can find a wide range of insurance products to protect your assets and financial well-being.

The company offers health insurance that covers medical expenses, including doctor visits, hospital stays, and surgeries. This can be a huge relief for those facing unexpected medical bills.

Nürnberger Versicherung also provides home insurance that covers damage to your property, including fire, water, and theft. This can give you peace of mind knowing your home and belongings are protected.

Their life insurance options allow you to ensure financial security for your loved ones in the event of your passing. This can be a thoughtful way to provide for their future.

In Germany, free-lance midwives need to have a Berufshaftpflichtversicherung, or professional liability insurance, to practice their profession.

This insurance is crucial as it provides protection against potential lawsuits and financial losses. Without it, a midwife cannot legally practice their profession.

The Nürnberger Versicherung had announced in 2014 that they would be leaving the market for professional liability insurance for free-lance midwives in Germany, effective July 2015. This decision sparked significant media attention.

Fortunately, the Deutsche Hebammenverband was able to collaborate with other insurance companies to ensure that the protection for free-lance midwives was maintained.

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The company NÜRNBERGER has a long history of providing protection and security, dating back to 1884 when it was founded as the Nürnberger Lebensversicherungs-Bank.

One of its founders was Lothar Freiherr von Faber, a renowned Bleistiftfabrikant.

The company introduced the first private Unfallversicherungspolice in Bayern, marking a significant milestone in its history.

NÜRNBERGER was also a pioneer in other groundbreaking products, such as the fondsgebundene Versicherung and Schutz gegen Berufsunfähigkeit.

Today, NÜRNBERGER continues to offer innovative and digital solutions that provide customers with the right protection.

At Nürnberger Versicherung, corporate social responsibility is deeply rooted in the company's tradition. The company's founder set the tone for a commitment to social responsibility.

This commitment is evident in the company's approach to social security. Nürnberger Versicherung has been working to fill gaps in the statutory pension system.

By providing additional social security, Nürnberger Versicherung aims to support those who need it most. This approach has been ongoing since the company's inception.

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The Nürnberger Versicherung's solution is a great example of how to achieve success in IT. They've implemented virtualized servers, IBM computers, and storage systems in the noris network AG's new high-security data center in Nürnberg Süd.

This TSI-Level-4 data center provides a secure and energy-efficient infrastructure that meets the company's needs. The Nürnberger Versicherung is very satisfied with the project's progress and the use of this infrastructure.

Their solution includes a range of services, including IT services, IT outsourcing, managed services, cloud services, and colocation in Germany. These services are designed to meet the company's specific needs and provide a high level of security and efficiency.

Here are some of the key services included in their solution:

The Nürnberger Versicherung's financial performance in 2023 was a mixed bag. The company's consolidated profit shrank to 42.8 million euros, a significant decrease from the 70 million euros reported the previous year.

This decline in profit can be attributed to the high inflation rates that led to higher costs for damage settlements. The company had to absorb the increased costs of repairs and other expenses.

Despite the decrease in profit, the Nürnberger Versicherung's revenue remained stable at 4.4 billion euros. This suggests that the company's business operations are still generating a substantial amount of revenue.

Other insurance companies are facing similar challenges, including rising repair costs and personnel expenses. The HUK Coburg, for example, has announced plans to increase car insurance premiums due to increasing costs.