Huk-Coburg probably wants to take a stake in Neodigital

There could soon be a joint venture between the two insurers, according to media reports.

According to reports in the Süddeutsche Zeitung the car insurer Huk-Coburg would like to invest a double-digit million euro amount in the insurtech Neodigital. The two companies also want to establish a joint venture through which they could also offer third-party car insurance. With the strategic merger, the companies want to become more competitive against rivals such as Check24 and Verivox. However, Huk-Coburg and Neodigital did not confirm the rumors when asked by Süddeutsche Zeitung.

Neodigital was founded in 2017 by Stephen Voss and Dirk Wittling and offers digital insurance. The portfolio includes liability, accident, household contents, buildings and pet insurance. The start-up's investors include the Schneider-Golling Group, Deutsche Rück and Coparion. With a turnover of 8 billion euros in 2020, Huk-Coburg is the market leader for vehicle insurance.

Huk-Coburg has existed since 1933 and started out as a car insurer for civil servants. With around 13 million insured cars and a turnover of 8 billion euros in 2020, the company is the market leader for vehicle insurance.