What Condor Versicherungen does

Condor Versicherungen is a German insurance provider headquartered in Hamburg, founded in 1955 by Rudolf-August Oetker and acquired by R+V Versicherung AG in 2008. The company operates as a Maklerversicherer (broker insurer) distributing exclusively through independent Versicherungsmakler and multiple agents, with no direct-to-consumer channel. Its core product portfolio spans three pillars: occupational and private pension provision (Klassik-Rente, Performance-Rente, Sofort-Rente, Congenial garant Family, and the dynamic bAV hybrid Congenial bAV Smart+Easy), income protection through Berufsunfähigkeitsversicherung (occupational disability insurance in three tariff lines), and investment-linked insurance (Fondspolice) backed by a curated universe of 136 funds including 87 sustainable options and pre-configured strategy families (BlueMix, EasyMix, ProfiMix). The Portfoliomanager tool and Startmanagement service support customer engagement and entry-cost risk mitigation.

Underlying technology centers on multi-asset investment strategies with active allocation between secure and opportunity-oriented capital, lifecycle management, and a rigorous fund selection process. Condor relies on external advisors FERI AG (~140 funds reviewed, EUR 60bn AUM) and Scope Fund Analysis for ongoing portfolio quality oversight, and integrates ESG considerations through ISS ESG Prime status and UN PRI membership. Revenue is generated primarily through recurring life insurance premiums (Condor Lebensversicherungs-AG gross premiums written of EUR 320 million in 2020, up 19% YoY) and historically through property/casualty premiums (Condor Allgemeine, EUR 185 million in 2019, now merged into R+V Allgemeine as of January 2024). Customer segments include private individuals, employers seeking bAV solutions, self-employed and freelancers requiring income protection, students/young professionals, and fund-oriented savers.

The company is privately held as a wholly-owned subsidiary of R+V Versicherung AG, which itself sits within the cooperative DZ Bank Group. It holds a Fitch AA financial strength rating, multiple top-tier analyst recognitions (Map-Report mmm, Franke und Bornberg FFF+, IVFP Exzellent, AssCompact Fondspolicen-Award 2024), and is regulated by BaFin.

Name

Condor Versicherungen

Legal name

Condor Lebensversicherungs-Aktiengesellschaft

Website

https://condor-versicherungen.de

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

11–50 employees

Short description

Condor Versicherungen is a Hamburg-based German life insurer and Maklerversicherer, distributing exclusively through independent brokers within the R+V Versicherung group, offering occupational pensions, disability insurance, and fund-linked products to private, employer, and self-employed customers.

Ownership category

akta.pro rank

Product category

Life and Pension Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311)

akta.pro primary industry

Group Universal Life (GUL) (FSAIADAC)

akta.pro secondary industry

Disability Buy-Sell / Business Continuation Insurance (FSAIAIAL)

Keywords

• Life insurance products
• Pension and retirement planning
• Occupational disability insurance
• Fund-linked insurance
• Company pension schemes

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Condor Lebensversicherungs-AG generates revenue through life insurance products including traditional life insurance, annuity insurance (Klassik-Rente, Performance-Rente), unit-linked insurance (fondgebundene Rentenversicherung), and hybrid products. Premium income from these products forms the core revenue stream, with gross premiums written of 320 million EUR reported for 2020.
2. Property & Casualty Insurance: Condor Allgemeine Versicherungs-AG (merged into R+V Allgemeine in 2024) underwrote property and casualty insurance products including liability, household contents, buildings, accident, and motor/Guarantee insurance. Gross premiums of 185 million EUR reported for 2019, with 696,500 contracts.
3. Occupational Pension Administration Services: Condor Dienstleistungs-GmbH (CDL) provides service company functions for occupational pension provision (bAV), including consulting and quotation services as well as actuarial expertise. This supports the bAV business unit of Condor Lebensversicherungs-AG.
4. Investment Fund Distribution: Condor offers investment funds through its fund-based insurance products, with over 136 funds available in the fund universe including 87 sustainable funds. The company earns revenue through fund management and insurance wrapper fees embedded in the unit-linked product pricing.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Condor Versicherungen is a German broker-focused insurer (Maklerversicherer) operating as a wholly-owned subsidiary of R+V Versicherung AG. The company sells life insurance, annuity and pension products, occupational disability insurance (Berufsunfähigkeitsversicherung), company pension schemes (bAV), and fund-linked insurance (Fondspolice) with access to 136 funds including 87 sustainable funds. Distribution is exclusively through independent insurance brokers and multiple agents.

Product overview

Condor Versicherungen operates as a German insurance provider and broker insurer (Maklerversicherer) belonging to the R+V Versicherung Group. The company offers a comprehensive portfolio of life and pension insurance products organized around three core pillars: retirement provision (pension insurance, company pension/bAV, immediate annuities), income protection (occupational disability insurance with multiple tariff levels), and investment products (fund-linked insurance with 136 funds including 87 sustainable options). The product architecture combines traditional classic pension (Klassik-Rente) and performance pension (Performance-Rente) with modern fund-based solutions (Fondspolice), supported by pre-configured strategy families (BlueMix, EasyMix, ProfiMix) and tools like the Portfoliomanager and Startmanagement. The company distributes exclusively through independent insurance brokers and delivers products primarily as a subsidiary of R+V Lebensversicherung AG.

Differentiator

Problem solved

Functional benefit

Brands

• Congenial bAV Smart+Easy: A chance-oriented pension product with guarantees for occupational retirement provision (bAV), offered by R+V Lebensversicherung AG
• Optima Pensionsrente
• Condor Berufsunfähigkeitsversicherung

Products and services

• Congenial bAV Smart+Easy A dynamic two-pot hybrid company pension (bAV) product from R+V Lebensversicherung AG offering a capital guarantee of 60% or 80% at retirement with automatic lifecycle management and multi-asset investment strategy. Sold to employers and their employees via independent brokers.
• Condor Berufsunfähigkeitsversicherung Occupational disability insurance (BU) with three tariff lines (basic, comfort, premium) offering income protection. Features include cancellation of reorganization clause for self-employed, special student BU, and DU clause for civil servants. Achieves 93.02% claims payment ratio per MORGEN & MORGEN.
• Fondspolice (Fund-Linked Insurance) Fund-linked insurance policy allowing customers to invest premiums in a selection of 136 funds (including 87 sustainable funds). Offers actively managed and passive (ETF) fund options with multiple pre-configured strategy families (BlueMix, EasyMix, ProfiMix).
• Performance-Rente Fund-based pension insurance with 100% contribution guarantee at retirement and guaranteed lifelong minimum pension. Deferred annuity with surplus participation offering chances for increased total capital.
• Klassik-Rente Classic pension insurance with traditional capital accumulation. Total return for 2022 was 1.80% with ongoing return including technical interest rate of 1.55%.
• Sofort-Rente Immediate annuity product providing immediate pension payments from inception of contract. Total return for 2025 in new business is 2.60% for guarantee capital.
• Condor Risikolebensversicherung Term life insurance with features specifically for property buyers, including adjustable death benefit matching loan schedules and Bau-Bonus automatic increase for new home construction or purchase.
• Betriebliche Altersversorgung (bAV) Company pension product line providing supplementary retirement savings with state subsidies and tax advantages for employers and their employees. Includes Congenial bAV Smart+Easy, Optima Pensionsrente, and Condor Versorgungs- und Unterstützungskasse offerings.
• Congenial garant Family Fund-based insurance with guarantees product family offering capital guarantee at retirement. Total return for 2025 is 2.60% for guarantee capital in new business (up from 2.45% in 2024) with 1.95% ongoing return.

Quantifiable outcome

• 93.02% claims payment ratio (Leistungsquote) for Berufsunfähigkeitsversicherung, rated by MORGEN & MORGEN (05/2026)
• +5 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• FERI AGmajorTechnology or Integration · 29 October 2024FERI AG (Multi Asset Investment House, Bad Homburg) provides fund advisory and selection services for Condor Lebensversicherungs-AG. FERI reviews approximately 140 funds in Condor's fund universe and provides replacement recommendations. FERI manages approximately 60 billion EUR in assets including 18 billion EUR in alternative investments.
• Scope Fund Analysis GmbH (Scope)majorTechnology or Integration · 1 July 2024Scope Analysis provides annual quality reviews of Condor's fund offerings, evaluating fund performance, risk-adjusted returns, costs, and sustainability criteria. Scope provides fund replacement recommendations for underperforming funds and supports strategy portfolio construction.
• R+V Versicherung AGcoreStrategic or Co-development Partner · 1 January 2008R+V Versicherung AG (Wiesbaden) acquired Condor Versicherungen in 2008. Condor operates as a subsidiary within the R+V Group, one of Germany's largest insurance companies with a cooperative background. R+V provides capital investment expertise, risk management, and group support to Condor while Condor maintains its brand and market positioning as a broker-focused insurer.
• UN Principles for Responsible Investment (PRI)minorStrategic or Co-development PartnerR+V and Condor support the UN PRI initiative and commit to considering sustainability aspects in capital investment. R+V is among the few German insurers to join the initiative founded in 2006. The initiative aims to make the global financial system more sustainable.
• Net Zero Asset Owner Alliance (NZAOA)minorStrategic or Co-development PartnerR+V joined NZAOA in April 2023, committing to make investment portfolios climate-neutral by 2050. The alliance, convened by UNEP Finance Initiative and UN PRI, brings together major pension institutions and insurers to set science-based interim targets.
• KRAVAGminorChannel Partner/ Reseller/ DistributorKRAVAG and Condor jointly conduct vocational training for insurance and finance professionals at the Hamburg location. The joint 'Pool-Ausbildung' model was awarded the InnoWard prize for innovation.
• R+V STIFTUNGminorOthersThe R+V STIFTUNG (founded 2018) bundles the social engagement of the R+V Group including Condor. The foundation supports education, youth and elderly assistance, science and research, welfare, and charitable purposes. Since 2015, R+V STIFTUNG has funded JOBLINGE program scholarships.
• JOBLINGEminorOthersJOBLINGE is a social initiative (founded by Boston Consulting Group and BMW Eberhard von Kuenheim Foundation) helping disadvantaged youth find apprenticeships and jobs. Since 2015, R+V STIFTUNG funds scholarships and R+V employees mentor youth participants.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Allianz Lebensversicherung: Germany's largest life insurer and part of Allianz SE. Massive incumbent competing across life, BU, bAV, and fund-linked categories with both broker and direct channels; relevant benchmark for product innovation and pricing.
• Zurich Deutscher Herold Lebensversicherung: Part of the global Zurich Insurance Group offering life and pensions in Germany through brokers and direct channels. Larger incumbent with broader portfolio including P&C; competes with Condor in life/BU product categories.
• HDI Lebensversicherung (Talanx): German life insurer within the Talanx group, offering life, BU, and pension products distributed through brokers and tied agents. Comparable product suite with broader group backing.
• Generali Deutschland Lebensversicherung: German arm of Generali Group offering life, BU, and pension products through mixed channels including brokers. Competes with Condor particularly in bAV and life insurance categories for German SME and private customers.

Direct peers

• Nürnberger Lebensversicherung: Mid-sized German life and BU insurer with significant broker-channel presence and comparable life/pension product portfolio. Often rated alongside Condor in independent product comparisons.
• Volkswohl Bund Lebensversicherung: Mid-sized German life insurer with a similar broker-focused distribution model and product portfolio including occupational pensions, BU, and fund-linked retirement products. Direct competitor for broker placement in the German Maklerversicherer segment.
• Swiss Life Germany (Swiss Life AG, Niederlassung Deutschland): German operations of Swiss Life specializing in life insurance, pensions, and BU distributed primarily through independent brokers. Comparable in product breadth, broker-channel focus, and BU/part-time clause offerings.
• Dialog Lebensversicherung: German life insurer specializing in modern, flexible life and BU products distributed primarily through independent brokers. Closely comparable as a specialized broker-focused life insurer targeting similar customer segments.
• Alte Leipziger Lebensversicherung: German life insurer that also operates as a Maklerversicherer distributing exclusively through independent brokers. Closely comparable in product mix (life, BU, bAV, fund-linked) and broker-focused go-to-market model to Condor.
• Hannoversche Lebensversicherung: German mutual life insurer offering comparable life, BU, and pension products with a strong broker channel presence and similar mid-market positioning. Frequently appears alongside Condor in independent product ratings.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/condortopthema
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/condor-allgemeine-versicherungs-ag

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Condor Versicherungen