The historical origins of what is now Generali Deutschland Holding AG and the Generali Deutschland Group can be traced back to 1824. On August 13 of that year, on the initiative of David Hansemann, an Aachen businessman and later Finance Minister of Prussia, ten respected merchants plus the Regional Governor and the Vice-Governor, establish a public limited company under the name of "Aachener Feuer-Versicherungs-Gesellschaft" (today calles AachenMünchener). On June 24, 1825 it receives its official licence from the Prussian King Frederick William III. Its share capital is one million talers - the equivalent in purchasing power of about € 30 million today - and it
starts operating
on September 1, 1825.
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1824
David Hansemann founds the Aachener Feuer-Versicherungs-Gesellschaft

David Hansemann |
In response to the difficult social conditions of his time, by founding his company Hansemann also implements the idea of a charitable fund to be fed from the profits arising out of the fire insurance business. This arrangement still exists to this day and provides substantial benefits to the general public.
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The charitable fund is established |
Although the Aachener Feuer-Versicherungs-Gesellschaft makes a good start, it is initially only registered for the Kingdom of Prussia. Its Articles of Association provide for it to operate in the other German states only as a "foreign" company. On top of that, the charitable fund can only be used in Prussia. This increasingly proves to be a serious disadvantage. Only in 1832 the company succeeds in persuading the Prussian King to lift that restriction. In 1832 "Aachener Feuer" is the first "foreign" company to be licensed to operate in Bavaria on the same footing as any local fire insurance company. At the request of King Louis I of Bavaria, however, the company operates in his kingdom under the name of "Münchener und Aachener Mobiliar-Feuerversicherungs-Gesellschaft" (Munich and Aachen Fire Insurance Company) whilst in the rest of Germany it has always appeared since 1834 as the "Aachener and Münchener" company. These two names are retained in parallel with one another right up to 1970.
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1834
Aachener Feuer is licensed to operate in Bavaria
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By 1840 the company
is finally
licensed to operate in all German states existing at that time. It successfully stands its first real test on the occasion of the Great Fire of Hamburg in 1842. The Chief Executive at the time, Friedrich Adolph Brüggemann,
personally travels
to Hamburg and pays out compensation benefits on the spot totalling 320,000 talers
(equalling nearly € 9.5 m today). His personal efforts prove to be worthwhile because they also enable him to win a large number of new customers.
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1840
Licensed in all German states

Friedrich Adolph Brüggemann
1842
Great Fire of Hamburg |
The company's premium income doubles between 1841 and 1850. The increasing level of industrialization and the repercussions of the Great Fire of Hamburg motivate Brüggemann to establish Aachener Rückversicherungs-Gesellschaft (Aachen Re) in 1853, the second-oldest professional reinsurance company in the world.
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1853
Aachen Re founded |
| In the second half of the 19th century, Aachener und Münchener is Germany's biggest fire insurance company and also one of the best-known and most respected of its industry. Its customers include famous personalities from the world of politics and business; Bismarck, for instance, insures his Varzin Estate with the company. One indication of the level of name recognition enjoyed by the company is the fact that the well-known author Wilhelm Busch mentions it in one of his pict-ure-stories, the one in which the house of Doctor Fink burns down. The conclusion of the story reads:
Fink hat versichert, Gott Lob und Dank,
bei der Aachener Feuerversicherungs-Bank.
Und nach zwei Jahren so ungefähr,
wohnt er weit schöner als wie vorher.
"Fink was insured, heaven be thanked,
with the Aachen fire insurance bank.
And after two years, or a little more
he is living far better than ever before."
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Since 1860
Germany's leading fire insurer
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