Nuremberg Insurance: Two insurers disappear from the market

Merger planned

Two insurers disappear from the market

Nürnberger Versicherung is repositioning itself and taking two subsidiaries off the market. The company itself was only taken over in the spring.

After being taken over by the Vienna Insurance Group (VIG), Nürnberger Versicherung is withdrawing two insurers belonging to the company from the market. Both Garanta Versicherungs-AG and Nürnberger Kommunale Versicherung AG will be merged into Nürnberger Allgemeine Versicherungs-AG, through which the group will in future operate its property and casualty insurance business centrally.

While the company sold special tariffs for civil servants through the Nuremberg civil service General Insurance, the focus of Garanta Versicherungs-AG, founded in 1985, was on the motor vehicle trade. Through this, car buyers were offered appropriate insurance solutions directly when purchasing a car. However, both insurers have recently only played a minor role in new business.

The merger will not change anything for the customers of the two companies. “Services, contributions and contacts remain the same,” said the Nuremberg company. By merging its three property insurers, the company wants to remove the complexity from its organization and thereby also save costs.

The Franconian insurer has recorded some high losses in property and casualty insurance in recent years. The two companies now about to merge were also in the red. In the spring of this year, Nuremberg was finally taken over by VIG.