SIGNAL IDUNA and Deutscher Ring Krankenversicherungsverein

Press release from the SIGNAL IDUNA Gruppe and the Deutscher Ring Krankenversicherungsverein a. G. :

Merger between the SIGNAL IDUNA Gruppe and the Deutscher Ring Krankenversicherungsverein
Protection of jobs at our Hamburg location / Existing corporate structures remain in tact / Strengthening each other

The SIGNAL IDUNA Gruppe and the Deutscher Ring Krankenversicherungsverein a. G. intend to merge with each other as a group of companies which are legally separate entities, but under unified control without a parent company. The supervisory boards have received appropriate recommendations and decisions from the executive boards.
Reinhold Schulte, the SIGNAL IDUNA Group's managing director, said: "Two strong insurance companies are going to merge and strengthen each other's sales force". Wolfgang Fauter, managing director of the Deutscher Ring Krankenversicherungsvereins a.G., announced: "The merger will consolidate our Hamburg location and offer new options to rescue jobs at risk in the Deutscher Ring Group".

Strengthening each other's sales force

The most important argument for the merger is to strengthen each other's sales force. The Deutscher Ring Krankenversicherungsverein is extremely well positioned with regard to external sales and marketing, whereas the SIGNAL IDUNA is in a strong position when it comes to exclusiveness. The excellent access the SIGNAL Krankenversicherung has to the compulsory health insurance funds offers further opportunities to the  Deutscher Ring Krankenversicherungsverein.

Synergies with new tasks

This merger in the field of private health insurance will lead to synergies for dealing with the decisive increase in statutory requirements.

Merger among mutual insurance associations

The SIGNAL IDUNA Gruppe will be managed by mutual insurance associations. The Deutscher Ring Krankenversicherungsverein will be added with the merger to a group of insurance associations as another controlling company. Mutual insurance associations are, as insurance companies organised as cooperatives, solely responsible to their members. Their business policy is not focussed on the interests of analysts and shareholders. Wolfgang Fauter: "Rather we find the long-term business policy towards the Deutscher Ring Krankenversicherungsverein exceptionally accommodating".

The Krankenversicherungsverein will be integrated into the existing company structure in its merger with the SIGNAL IDUNA. The infrastructural partnership with its property and life insurance is not effected. The Deutscher Ring Krankenversicherungsverein is sticking to its property and life insurance Deutscher Ring contracts and would like to continue with them. "The new structure also gives rise to another alternative solution for the Swiss-based Schweizer Bâloise-Holding to give the Deutscher Ring's property and life insurance business a promising perspective", Reinhold Schulte said.

This Group of unified companies will be in the top ten of direct insurers in Germany with a premium income of more than 5.2 billion euros. Over 12,500 employees will be taking care of more than 13 million clients/contracts. The capital assets exceed 43 billion euros. The SIGNAL IDUNA Gruppe and the Deutscher Ring Krankenversicherungsverein a.G. already have the highest rating "excellent" with ASSEKURATA under the criterium "safety". This Group of unified companies with its 9 state head offices, 63 branch and brokers' offices and almost 4,000 tied agents has a nationwide network to look after its clients locally.

SIGNAL IDUNA Group
Edzard Bennmann, phone: 0049 (0)40-41242925 oder 0049 (0)231-1353539

Deutscher Ring Krankenversicherungsverein
Jörg Forthmann, phone: 0049 (0)178-6611757

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