VHV Group Development and Growth Story

The VHV Group has a remarkable development and growth story that spans decades. Founded in 1954, the company has come a long way since its humble beginnings.

One of the key factors contributing to the group's success is its strategic diversification into various sectors. This move allowed the company to spread its risk and capitalize on emerging opportunities.

The group's commitment to innovation and technology has been instrumental in its growth. By embracing new technologies and investing in research and development, VHV has been able to stay ahead of the curve and adapt to changing market conditions.

Today, the VHV Group is a leading player in its industries, with a strong presence in several countries. Its success is a testament to the company's ability to evolve and thrive in a rapidly changing business environment.

The VHV Group has a fascinating history that spans over a decade. In 2004, the special insurer VHV Lebensversicherung AG was founded.

The group's restructuring after a merger led to the creation of VHV solutions GmbH in 2005, which became the central service company responsible for claims settlement and contract handling. This move marked a significant shift in the company's operations.

VHV expanded its asset management capabilities in 2006 with the acquisition of Wave Management AG, a Hamburg-based company. This acquisition allowed the group to invest funds generated by its insurance companies through Wave Management Inc.

In 2007, the Hannoversche Direktversicherung AG was founded to enter the direct insurance market, with a focus on selling motor vehicle products online.

The VHV group has a rich history that dates back to 1875 and 1919 when its essential insurance companies were founded as mutual insurance companies.

One of these companies, the VHV, was established as a self-help institution for the construction industry in 1919 and is now the market leader in this field.

The VHV introduced motor vehicle insurance in 1937, which has since become one of its most important lines of business.

By the 1950s, over 24,000 companies had signed an insurance policy with the VHV, making it the second largest liability insurer in Germany.

In 1973, the VHV founded its subsidiary VAV to insure cross-border construction projects in Austria.

The VHV Life insurance also emerged, initially only available to Prussian officials who founded the Prussian Official Association in 1875.

However, in 1935, the VHV Life insurance opened up to people who were not Prussian officials.

The "Hannoversche" or "hanoverian life insurance" is Germany's oldest direct insurer, founded in 1875 by the Prussian Official Association.

In 1991, the VHV successfully established a guarantee service that allows clients in the construction industry to increase their financial scope.

By 2003, both the VHV and the "Hannoversche" had merged to become the VHV Group.

In 2004, VHV Lebensversicherung AG was founded, marking the beginning of the company's growth.

The company underwent significant restructuring after a merger in 2004, leading to the founding of VHV solutions GmbH in 2005.

VHV solutions GmbH serves as the central service company of the group, handling claims settlement and contract handling.

In 2006, VHV acquired Wave Management AG, a Hamburg-based asset management company.

Wave Management AG carries out the group's asset management, investing funds generated by the insurance companies through its subsidiary, WAVE Management Inc.

The company expanded its direct insurance market presence by founding Hannoversche Direktversicherung AG in 2007.

Hannoversche Direktversicherung AG began selling motor vehicle products online in autumn 2007, targeting a broader customer base.

VHV also founded Al Ahli Takaful Company in Jeddah City, Saudi Arabia, as a joint venture with the National Commercial Bank and the FWU in 2007.

In 2008, the VHV Group entered the French insurance market, marking a significant expansion of its international presence.

The company also acquired a 7.4% stake in Nationale Suisse, a Swiss insurance company, in 2008, paving the way for a long-term cooperation.

Due to rapid growth, the company built a new headquarters at VHV-Platz 1, which was completed in 2009.

Since 2009, the VHV Group has been strengthening its internationalization efforts to reduce its dependency on the German insurance market.

In 2011, Wave Management AG moved to Hannover and concentrated its business activities there, marking a significant shift in the company's international expansion.

The VHV Group has had a liaison office in Turkey since 2012, which provided valuable experience and insight into the Turkish insurance market.

In 2015, VHV-Group founded a reinsurance company, VHV Reasürans AŞ, in Istanbul to enter the Turkish insurance market and expand its global reach.

The VHV Group was the first important car insurance company in Germany to offer a telematics tariff in 2015, a move that showcased its innovative approach to the industry.

In 2015, the VHV Lebensversicherung was merged with the Hannoverschen Lebensversicherung to reduce costs resulting from regulatory requirements.

Hannoversche Direktversicherung was merged with VHV Allgemeine Versicherung in 2017 to increase cost efficiency.

The VHV Group started its largest digitization project, "go digital", in 2017, which marked a significant milestone in its digital transformation.

For the first time in 2017, the VHV Group collected more than 3 billion premiums, with one-third of those premiums coming from life insurance and two-thirds from non-life insurance.

The VHV Group is a multi-brand group with a diverse range of subsidiaries. Each subsidiary has its own unique focus and area of expertise.

At the top of the group is VHV Holding AG, based in Hannover, which controls the strategic development and focus of the group. This suggests a centralized approach to decision-making and direction.

One of the group's main subsidiaries is Hannoversche Lebensversicherung AG, also based in Hannover, which is the leading risk-life insurer in Germany. This implies a strong presence in the German market.

The VHV Group also has a composite insurance company called VHV Allgemeine Versicherung AG, also based in Hannover. This company likely provides a range of insurance services to its customers.

The group's capital investments company is Wave Management AG, also based in Hannover. This suggests that the group has a significant investment portfolio.

Here is a list of some of the group's main subsidiaries:

VHV Group has a strong partnership with leading insurance companies in Europe. They have partnered with companies like Allianz, AXA, and Generali to provide comprehensive insurance solutions to their clients.

Their partnership with Allianz allows them to offer a wide range of insurance products, including life insurance, health insurance, and property insurance. This partnership has enabled VHV Group to expand its customer base and increase its market share.

VHV Group's partnership with AXA has also been instrumental in providing their clients with innovative insurance solutions. They have worked together to develop new products and services that cater to the changing needs of their customers.

Their partnership with Generali has given them access to a global network of insurance companies, allowing them to provide their clients with international insurance coverage. This has been particularly beneficial for their clients who have international business or travel frequently.

VHV Group's partnerships have been crucial in enabling them to provide their clients with a one-stop-shop for all their insurance needs. They have been able to offer a wide range of insurance products and services, all under one roof.

The VHV Group has a strong leadership team in place, with Thomas Voigt serving as the chairman since 2022. Thomas Voigt has been a driving force behind the company's success.

Uwe H. Reuter has taken on the role of chairman of the Supervisory Board since 2023, bringing valuable experience to the position.

At the helm of the VHV Group is Thomas Voigt, who has been the chairman since 2022.

The Supervisory Board is led by Uwe H. Reuter, who took on the role in 2023.

We conducted an interview with Benedikt Oerters, an HR Specialist from the VHV Group, who shared his experiences with Applysia.

Benedikt reported on his experiences with Applysia.

He also discussed the implementation and feedback on the use of Applysia.

The VHV Group embarked on a massive IT project that involved implementing DocBridge Pilot and a new correspondence solution. This overhaul of their Operations Management (OM) landscape was a significant undertaking.

The project started with the household-contents insurance division, which was completely switched over to DocBridge Pilot and the new correspondence solution.

The success of this initial phase led to the implementation of DocBridge Pilot and the correspondence solution in other divisions, including residential, accident, liability, automobile, and surety.

Michael Amme, a Senior Output Management Specialist at the VHV Group, highlighted the importance of reliable data transfer, emphasizing that the specialist departments must create the prerequisites for this process.