Germany’s Federal Financial Supervisory Authority, BaFin, has given its approval to the planned merger of Barmenia and Gothaer to form BarmeniaGothaer.
BarmeniaGothaer will be a new top 10 insurer with a premium volume of around €8bn, 7,500 employees, and €50bn in capital investments.
"We are looking forward to our shared future," Gothaer CEO, Oliver Schoeller, stated.
"Now we need to use the enormous potential that our combined strengths offer to build a company with a shared culture and vision."