In 1997 a decisive step is taken for intensifying the cooperation within the Group and for consistently realizing synergies: The then AMB underpins its leadership in the Group by taking out control agreements with Aachener und Münchener Lebensversicherung AG, Aachener und Münchener Versicherung AG, AdvoCard Rechtsschutz Versicherung AG, Central Krankenversicherung AG, CosmosDirekt Versicherungen and Volksfürsorge Holding AG while the brands of the individual companies are maintained.
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1997
Control agreements between AMB and all major Group companies
Group headoffice in Aachen |
Early in the 90s, the French group AGF starts acquiring the then AMB shares and finally holds a stake of 25 percent. Upon the acquisition of AGF by Allianz in 1998, Assicurazioni Generali S.p.A., Trieste/Italy buys a majority stake in AMB from AGF and other shareholders. The AMB Group, rich in tradition, thus becomes part of the Generali Group, one of the biggest insurance groups in the world.
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1998
Assicurazioni Generali S.p.A. becomes the majority shareholder of AMB
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In the mid-90s, the then AMB Group starts to successively sell the shares held in BfG. In 1999 it finally separates from its stake by selling the remaining shares to SE-Bank from Sweden. In parallel, the AMB Group concludes an agreement with Commerzbank AG, Frankfurt, regarding a cooperation in the distribution of insurance and bank products. Commerzbank sells insurance products of Volksfürsorge and building-society products of Badenia in its branch offices, while Aachener und Münchener, Volksfürsorge, Thuringia Generali, Deutsche Bausparkasse Badenia and Central Krankenversicherung act as intermediaries for the bank products of Commerzbank. To underpin this close cooperation, the General Group increases its stake in Commerzbank to 9.9 percent. In 2001, the creation of the joint company Commerz Partner Beratungsgesellschaft für Vorsorge- und Finanzprodukte lays the foundations for a joint sales organization. The market opportunities of the new sales company are based on the synergies between the good customer relations of Commerzbank and highly qualified advice by the specialists of Commerz Partner.
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1998
Sales cooperation with Commerzbank
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After having taken over the majority in the then AMB, Assicurazioni Generali brings the Generali Lloyd companies into the AMB Generali Group. AMB thus becomes the strategic holding company of all the German units of the Generali Group. In the wake of the integration, Generali Krankenversicherung is merged into Central Krankenversicherung AG and Generali Rechtsschutzversicherung is merged into AdvoCard Rechtsschutzversicherung AG.
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1999 - 2000
Integration of the Generali Lloyd companies
AMB becomes the strategic holding company of all German units of the Generali Group
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In 2000 the Group again extends its field of activities: with the foundation of AMB Generali Asset Managers, the Group also sells its own investment funds via the newly created asset-management company.
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2000
Foundation of
AMB Generali Asset Managers
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In July 2001, the name change of AMB to AMB Generali Holding AG and the name changes of the service providers for IT, asset management and real estate further illustrate the fact of being part of the international Generali Group.
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2001
Name change of AMB to AMB Generali Holding AG
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For the then AMB Generali Group, the year 2001 is characterized by a sustained deepening and strengthening of the Group structures. At year-end 2001, profit transfer agreements are concluded at a level below the holding company with Aachener und Münchener Lebensversicherung AG, Aachener und Münchener Versicherung AG, Thuringia Versicherungs-AG, Volksfürsorge Holding AG, the Generali Lloyd companies and Cosmos Lebensversicherung AG. In the same year, Dialog Versicherung AG is merged into Generali Lloyd Versicherung AG.
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2001
Conclusion of profit transfer agreements between AMB and Group companies
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In the light of a very small free-float in some subsidiaries and on the basis of new legal rules, the Group decides to take an additional step and squeeze out the minority shareholders of the listed Group companies as well as of Deutsche Bausparkasse Badenia AG and Central Krankenversicherung AG. This leads to a further simplification of the Group structure. After the squeeze-out of the minority shareholders of the listed subsidiaries, the Group's presence in the stock market is concentrated on the share of AMB Generali alone.
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2002
Squeeze-out of minority shareholders |
In Munich, the Generali Lloyd companies and Thuringia Versicherungs-AG as well as the latter's subsidiary SAVAG Versicherung AG join to operate under the name of Thuringia Generali Versicherungen, which in February 2004 is changed to Generali Versicherungen. This creates the third-biggest location of the AMB Generali Group. The location approach of the Group now presents itself as follows: Aachen with Aachener und Münchener and AMB Generali Informatik Services, Hamburg with Volksfürsorge and AdvoCard, Munich with Generali Versicherungen and Saarbrücken with CosmosDirekt, the leading direct-selling insurer in Germany. In addition there are the locations of Cologne (Central Krankenversicherung), AMB Generali Asset Managers, AMB Generali Immobilien), Karlsruhe (Deutsche Bausparkasse Badenia) and Augsburg (Dialog Lebensversicherung).
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Joining of the Munich-based companies to Generali Versicherung AG and Generali Lebensversicherung AG
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Generali Deutschland
Corporate Bodies
Company Presentation
Company History
1824 to 1860
1870 to 1924
1929 to 1972
1975 to 1995
1997 to 2002
2002 to 2010
Spokesman of the Board of Management / Chief Executive Officers of Generali Deutschland
