Location

Huge regional economy and easy access to Europe

Cologne is an obvious destination for German and international insurers and reinsurers that are keen to access this huge market and the wider European Union. The city lies at the heart of the massive North Rhine Westphalia economic region that is home to almost 18 million people.

A combination of state of the art air, road and rail connections means that this region is superbly connected to the rest of Germany, France, Belgium, Netherlands and the UK. Cologne Bonn Airport is particularly well connected to major European Cities.

Cologne has numerous direct connections a week to the main European Cities such as London, Madrid, Lisbon, Rom, Stockholm, Warsaw or Moscow to mention just few.

Market

Vibrant and international insurance market

Well-known German and international insurance companies, from AXA and Atradius to DEVK, DKV, General Reinsurance, Gothaer, HDI, MSIG Insurance Europe AG, Roland, Scor, XL Catlin and Zurich are all based in Cologne. Zurich Group Germany moved into its new corporate headquarters in Cologne end of 2019. Around 2,800 Zurich employees find now their new workplace in the modern building ensemble in the Deutz district of Cologne.

Cologne has a long and rich insurance tradition. Cologne Re, the world’s first reinsurance company, now part of the Berkshire Hathaway group, was created here in 1846 and the famous Gerling Group, now part of Talanx, was founded in this vibrant and cosmopolitan city in 1904.

Workforce

Skilled local insurance workforce of over 25,000 professionals

Cologne is already one of Germany’s leading insurance centres. Almost 25,000 individuals working for 73 German insurance companies, 60 branch offices of German insurers and 20 international insurers are already located in the city. This represents well over 10% of all German insurers.

Workforce © Ridofranz, iStock Photo

Talent

Two of Germany’s leading universities offering insurance education
Kranhäuser © Atilla Taskiran, Unsplash

Digitalisation, Brexit and the further internationalisation of markets are changing the insurance industry comprehensively. This will require innovative action and bold decision-making and this will only be possible if the sector manages to attract and retain the best talent.

Cologne’s hand is strengthened yet further in this regard because of its two leading universities – TH Köln/Cologne University of Applied Sciences and University of Cologne – that offer advanced training in insurance, reinsurance and risk. There are also vocational colleges for young people working under training schemes in companies, and the industry itself has a number of initiatives helping to qualify young women and men.

Insurtech

Cutting edge home to Germany’s Insurtech centre

In April 2017 Cologne’s insurance business was given a further important boost when it was authorised by the German Federal Ministry for Economic Affairs and Energy to be the prime location for Germany’s digital insurance hub under its ‘de:hub’ initiative. The joint initiative – backed by several German and International insurers headquartered in the Cologne region, universities, start-ups and supporting companies – is called “InsurLab Germany”.

 

Current List of InsurLab Germany’s members

Place to be

Great place to live and highly competitive rents

Rheinauhafen © Christoph Seelbach Fotografie

Cologne is a city of young people, the average age in Cologne is just 42 years. According to the survey of the business magazine Forbes, Cologne occupies the 8th position in the most attractive metropolises in the world for the youth.

The lifestyle of Cologne complements its solid location factors and makes this metropolis a place worth to live in – whether temporarily or permanently. A wide range of attractive shopping offerings and top events such as Art Cologne, c/o pop, ColognePride, Cologne Carnival, Kölner Lichter, lit.Cologne, Romanischer Sommer, SummerJam or the Christmas markets attract millions of visitors every year.

News

Insurlab Germany and Bitkom join forces

In order to accelerate the pace of digitisation in this country, Insurlab Germany is cooperating with the digital association Bitkom. As part of the nationwide Digital Hub Initiative, the Insurlab Germany wants to network start-ups with established insurance companies and universities and jointly shape the digital future.

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Any Questions?

Nina Dietzel

International Desk – Corporate Service

Oscar Escalante

Startup Unit

+49 221 99501-0

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