Over a million contracts left: insurer disappears from the market

Over a million contracts left

Insurers disappear from the market

Bank customers once received accident and residual debt insurance through Targo Insurance. Now the insurer, which has since been renamed, is being merged.

Another insurer disappears from the market. HDI Deutschland is merging its subsidiary, Neue Hildener Versicherung AG, with another subsidiary, Lifestyle Protection. A spokeswoman for the insurer confirmed this when asked by t-online. The German financial regulator Bafin has also already given its approval to the merger.

Most customers probably know Hildener Versicherung AG as Targo Versicherung. These became customers of the Targobank sells, among other things, life, accident and residual debt insurance. In 2025, Targobank’s parent company, the French banking group Crédit Mutuel, ended its cooperation with HDI Deutschland and now handles insurance sales through its own subsidiary Assurances du Crédit Mutuel.

Targo Lebensversicherung was then renamed HDI Vorsorge Lebensversicherung AG, and the property insurance business has since operated under the name Neue Hildener Versicherung AG. New contracts have not been concluded since the beginning of the year. Since then, Neue Hildener Versicherung AG has been managing the existing contract portfolio, primarily accident and residual debt insurance. At the turn of the year there were still 1.25 million contracts in existence.

Now the merger follows. When asked, an HDI spokeswoman explained that the move was intended to bundle structures and simplify processes. In the past, the insurer had already transferred another subsidiary, LPV Versicherung, to Lifestyle Protection.

The company spokeswoman confirmed that nothing will change for customers as a result of the merger. All contracts continue as agreed, and the services will also continue unchanged.