New strategy
Insurers sell hundreds of thousands of contracts
July 16, 2026 – 2:34 p.mReading time: 2 minutes
Eight years after it was founded, the Saarland insurer Neodigital is changing its business model. The contracts go to a competitor – what that means for customers.
An entry in the Federal Cartel Office’s merger register had indicated it, now the official confirmation follows: The Saarland insurer Neodigital is selling its entire insurance portfolio to Adam Riese, the digital brand of Württembergische Versicherung. In the future, Neodigital only wants to act as a technical service provider for other insurers.
With Neodigital, another of the so-called neo-insurers that emerged around 2015 is leaving the market again. Also Getsafe, Wefox, Mailo or the Berlin insurer Element, which has slipped into insolvency are no longer active as insurers in Germany. Only the digital health insurer Ottonova is still active. Many of the companies that started out with big promises have not managed to attract enough customers and operate profitably.
Insurer is in the red
Neodigital was founded in 2018 and sold a variety of property insurance, including building, household contents, liability, accident and bicycle insurance. Although the company from St. Ingbert has been able to significantly increase its revenue and the number of customers over the years, its core business has always been in the red. Last year, the underwriting loss was around 8.1 million euros – the costs of operation and the services paid out to customers significantly exceeded the income.
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According to Neodigital, over 400,000 customers are affected by the sale of the insurance contracts to Adam Riese. Neodigital assures that nothing will change for them as a result of the so-called inventory transfer. All contracts remain valid, and the sale has no impact on the agreed scope of services of the contracts.
Financial supervision must agree
The sale of insurance is subject to strict legal regulations. Approval from the financial regulator Bafin is always required – this has not yet been given. Before giving its approval, Bafin must ensure that the interests of the insured are safeguarded and that the company that buys the insurance can permanently fulfill the resulting obligations. A special right of termination for customers does not arise from the sale of the contract portfolio.
The customers of Neodigital Autoversicherung are not affected by the sale of the contract – the subsidiary was completely taken over by HUK-Coburg last year. The Franconian insurer had previously held a 51 percent stake in the former joint venture.
