Bonn, 18 March 2024: The Bundeskartellamt has today cleared under merger control plans to create a joint venture between Barmenia Versicherungen  a.G. (Barmenia) and Gothaer Versicherungsbank  VVaG (Gothaer).

Andreas Mundt, President of the Bundeskartellamt: “The proposed concentration between Barmenia and Gothaer will be one of the largest mergers in the German insurance markets in recent years. However, we do not expect this concentration to seriously affect competition. The various insurance markets in Germany have a great number of competitors, some of which are significantly larger.”

Barmenia and Gothaer are the parent companies of the insurance groups of the same name. Both groups offer their customers a broad range of insurance products and pursue life insurance, private health insurance, non-life insurance and, to a lesser extent, reinsurance activities. In geographical terms, the two insurance groups generate their total annual revenue (from premiums) of over seven billion euros mainly in Germany.

The planned merger will make Barmenia and Gothaer two of Germany’s larger insurance companies. Nevertheless, even after the merger, their market shares in the various insurance markets will remain at a level that is unproblematic from a competition perspective. This is also true for the two companies’ main areas of activity, such as private health insurance and non-life insurance. After the merger, Barmenia and Gothaer will be the sixth largest private health insurance provider in Germany. Providers that are significantly larger in some insurance markets include the Allianz Group, the Munich RE Group, the Debeka insurance group, the R+V insurance group and the Talanx Group.

Merger Approval for Barmenia and Gothaer in German Insurance Market

The Bundeskartellamt has given the green light for the merger between Barmenia Versicherungen a.G. and Gothaer Versicherungsbank VVaG, two insurance groups offering various insurance products in Germany. The merger, creating one of the largest insurance companies in Germany, is not expected to harm competition due to the presence of numerous competitors in the insurance markets. The combined entity will be the sixth largest private health insurance provider in Germany, with market shares that do not raise competition concerns. The main areas of activity for Barmenia and Gothaer, such as private health insurance and non-life insurance, will not be significantly affected by the merger. The largest insurance providers in Germany, including Allianz Group, Munich RE Group, Debeka insurance group, R+V insurance group, and Talanx Group, will continue to dominate the market.

Merger Approval for Barmenia and Gothaer in German Insurance Market

The Bundeskartellamt has approved the merger between Barmenia and Gothaer, two major insurance companies in Germany, stating that the concentration will not significantly impact competition in the insurance markets.