Hermann Firgau Assecuradeur GmbH

What Hermann Firgau Assecuradeur GmbH does

Hermann Firgau Assecuradeur GmbH is a Hamburg-based marine insurance underwriting agency (Assecuradeur) founded on 27 December 1933, operating as an authorized intermediary that binds marine insurance coverage on behalf of insurance carriers. The firm is headquartered at Herrengraben 3 in Hamburg and employs approximately 20 staff, operating exclusively on a B2B basis through insurance brokers and multiple intermediaries rather than serving retail customers directly. Since 2022 it has functioned as a subsidiary of the Gaede & Glauerdt Group.

The company's product set is narrowly focused on marine risk and comprises nine lines: Hull, River Hull, Houseboat, Loss-of-Hire, Hull Interest, Builders' Risk, P&I/Liability, Deductible/Electronics and Yacht. Coverage is offered for both ocean-going and inland waterway vessels, with international inland waterway / River Hull exposure added in 2014 to broaden the geographic footprint beyond German-flagged business. The model is that of a traditional specialist intermediary, relying on underwriting judgment, carrier mandates and broker relationships rather than on any disclosed proprietary technology, SaaS platform, or data/AI layer.

Revenue is generated via commission on premiums placed through the broker channel; no pricing model, contract structures or volume figures are publicly disclosed. Leadership rests with Managing Directors Patrick Wehrmeyer and Stefan Pahl (joined 2026), following the end-2023 departure of Volkhard Loos. The firm has no funding history as an investable venture, no public revenue disclosure, and no digital distribution presence beyond its position as a specialized node in the German marine insurance value chain.

Name

Hermann Firgau Assecuradeur GmbH

Legal name

Hermann Firgau Assecuradeur GmbH

Website

https://hermann-firgau.de

Company type

Private

Founded year

1933

Operating status

Operating

Headcount range

1–10 employees

Short description

Hermann Firgau Assecuradeur GmbH is a Hamburg-based marine insurance underwriting agency founded in 1933, binding nine marine product lines on behalf of carriers for insurance brokers and serving as a subsidiary of Gaede & Glauerdt Group.

Ownership category

akta.pro rank

Product category

Marine Insurance Underwriting

NAICS

Insurance Carriers and Related Activities (524), Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYFSAJAHAA

Ocean Marine Insurance (Hull, Cargo & Freight)

Financial & Insurance/Insurance — Motor, Property & Casualty/Marine & Aviation Insurance

SECONDARYFSAJAHAB

Inland Marine Insurance (Transit, Equipment & Installation)

Financial & Insurance/Insurance — Motor, Property & Casualty/Marine & Aviation Insurance

SECONDARYFSAJAHAH

Protection & Indemnity (P&I) / Marine Liability Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Marine & Aviation Insurance

SECONDARYFSAJAHAI

Yacht & Pleasure Craft Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Marine & Aviation Insurance

Keywords

• Marine insurance underwriting
• Hull and machinery insurance
• Protection and indemnity
• Inland navigation insurance
• Builders risk insurance

Headquarters

HQ city

Hamburg, HH

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Underwriting Agency Commission: The company operates as an underwriting agency (Assecuradeur), authorized by insurance companies to underwrite marine insurance risks. Revenue is generated through agency commissions and fees derived from insurance premiums written. They assess risks, create coverage concepts, sign policies, manage premium collection (encashment), and independently handle claims, with risk carriers remaining the service providers in case of claims.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Hermann Firgau Assecuradeur GmbH operates as an authorized underwriting agency for marine insurance, binding risks on behalf of several domestic and international insurance companies. The company assesses marine risks, creates tailor-made coverage concepts, signs insurance policies, manages premium collection (encashment), and independently handles claims. Its services are offered exclusively to insurance brokers and the risk carriers it represents, with no direct end-customer sales. The product portfolio spans hull and machinery, inland river hull, houseboat, yacht, loss-of-hire, hull interest, builders' risk, marine liability (P&I), and deductible plus electronics cover.

Product overview

Hermann Firgau Assecuradeur GmbH operates as an underwriting agency specializing in marine insurance, authorized by insurance companies to sign marine insurance policies and handle claims. The company offers a comprehensive portfolio of nine distinct insurance products spanning ocean-going vessels (Marine Hull & Machinery), inland waterways (River Hull Insurance), houseboats, water sports vehicles (Yacht Insurance), loss-of-hire coverage, hull interest/increased value insurance, builders' risk coverage for shipyards, marine liability/P&I insurance, and deductible/electronics insurance. The products are delivered through agency agreements with insurance companies, with the company assessing risks, creating individualized coverage concepts, signing policies, managing collections, and independently handling claims. Services are offered exclusively to insurance brokers and risk carriers represented by the company.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine Hull & Machinery Insurance (Seekasko) Ocean-going vessel hull insurance covering damage to the vessel, machinery, and equipment, offered under German ADS/DTV clauses, Nordic Marine Insurance Plan, English Institute Hull Clauses, or American Institute Clauses. Targeted at ship owners and operators of seagoing vessels placing coverage through insurance brokers.
• River Hull Insurance (Flusskasko) Inland waterway vessel hull insurance safeguarding the economic interest of ship owners, covering damage to the vessel and third-party liability for nautical fault, with tailored cover for tanker, dry cargo, passenger, and dredging vessels across European inland shipping.
• Houseboat Insurance Specialized insurance for houseboats and floating homes, covering the vessel, accessories, inventory, household effects, and third-party liability arising from operation and shipping traffic participation. Tailor-made for self-occupied floating houses, whether fixed or motorized.
• Loss-of-Hire Insurance Insurance covering loss of revenue when vessels are out of service due to hull-insured claims, protecting cash flow during repair periods for ship owners and charterers by making the financial impact of damage predictable and manageable.
• Hull Interest Insurance (Nebeninteressenversicherung) Increased value insurance closing the financial gap when replacing a lost vessel, covering total loss situations where hull value is insufficient and serving as excess coverage for collisions for ship owners and financiers.
• Builders' Risk Insurance (Baurisikoversicherung) Insurance for shipyards covering new construction, conversion, and liability from repair work, spanning from parts delivery through trial voyages to final delivery for various vessel types including seagoing and inland vessels.
• Marine Liability Insurance (P&I / Schiffshaftungsversicherung) Protection and Indemnity insurance covering third-party liability claims from vessel operation, including cargo damage, personal injury, oil pollution, wreck removal, and collision liability, with coverage sums up to USD 1 billion to satisfy international liability conventions and charterer/principal requirements.
• Deductible Insurance and Electronics Insurance Ship deductible insurance (DTV-ADS) covering hull insurance deductibles with optional modules for claims costs, accessory damage, and loss of hire from machinery breakdown, combined with electronics insurance for bridge equipment, navigation, and communication systems on seagoing vessels.
• Yacht Insurance (Wassersportversicherungen) Comprehensive insurance for sports boats, sailing yachts, and motor yachts combining hull insurance with liability coverage, protecting against collision, grounding, storm damage, fire, theft, sinking, and salvage costs for recreational water sports users.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves14 records

Expansion highlights4 records

Broad incumbents

• Skuld P&I: Norwegian P&I club providing marine liability cover to shipowners and operators. Compares on the P&I and marine liability line where Hermann Firgau underwrites up to USD 1 billion.
• Aon (Marine, Cargo & Logistics): Global insurance broker with marine specialty broking capabilities, competing for placement of ocean hull and P&I risks. Adjacent broker model rather than Assecuradeur.
• Gard P&I (LF): Major Protection & Indemnity (P&I) club based in Norway providing marine liability cover to shipowners globally. Comparable on the P&I product line, though operating as a mutual rather than an Assecuradeur.
• Allianz Marine (Allianz Global Corporate & Specialty): Global insurer with a major marine hull and liability portfolio, including inland waterway cover in Germany. Competes as a direct risk carrier rather than intermediary, but in the same product lines.
• Gaede & Glauerdt Group: Parent conglomerate (acquired Hermann Firgau in 2022) operating multiple insurance and risk management entities including other Assecuradeuren. Parent and broader-incumbent peer within the same group.
• Marsh (Marine & Cargo Practice): Global insurance broker with a dedicated marine, cargo and shipping practice that places hull and P&I business with carriers. Not a binding authority, but competes for the same broker-originated marine risk flow.

Direct peers

• International Underwriters (IU) Assecuradeur GmbH: German Assecuradeur specialising in marine and transport insurance, providing binding authority to insurance carriers. Directly comparable in business model and product focus.
• Roedl & Partner Assecuradeur GmbH: German Assecuradeur with marine and transport underwriting authority, serving brokers across multiple marine lines. Direct peer in the German marine underwriting agency market.
• Lampe & Schwartze Assecuradeur GmbH: German marine insurance Assecuradeur based in Hamburg, acting as an underwriting agency for ocean and inland marine risks on behalf of insurance carriers. Closest direct functional analogue to Hermann Firgau.
• Carsten Rehder Assecuradeur GmbH: Hamburg-based German marine insurance underwriting agency offering hull, P&I and transport cover through brokers. Direct niche competitor in the same Assecuradeur model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hermann-firgau-assecuradeur-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Hermann Firgau Assecuradeur GmbH