Transfer of insurance contracts of SOVAG

[Deutsche Version – hier klicken]

In July 2019, SOVAG announced that, as part  of the restructuring  begun in 2017, it would transfer the contracts of its already largely discontinued insurance business to DARAG Deutsche Versicherungs- und Rückversicherungs-AG (DARAG AG).  The German Federal Financial Supervisory Authority (BaFin) approved the transaction in December 2019.  The transfer was completed on 18. December 2019.

What does the transfer of insurance contracts mean for you as a customer of SOVAG SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft?
In the following paragraphs, you will find answers to the most important questions.

What is a portfolio transfer?
In the event of a portfolio transfer, the customer receives a new contractual partner, but nothing else changes in the contract itself.  The transfer requires the approval of the insurance supervisory authority.  This ensures that the interests of the customers are fully safeguarded.  and the insurance supervisory authority only grants approval for a transfer, if the obligations arising from the insurance contracts are shown to be fulfilable on a permanent basis.

Can I object to the transfer of my contract/claim for damage?
In the event of a portfolio transfer in accordance with §13 of the Insurance Supervision Act (VAG), the approval of the insurance supervisory authority replaces the consent of the consumer concerned.  However, an objection is not necessary, since all rights and obligations of SOVAG AG arising from the insurance contracts in relation to the policyholders are transferred to DARAG AG with the transfer of the portfolio.  Thus, no disadvantage arises for you.

 Who is DARAG AG?
DARAG AG is a German direct insurer and reinsurer under the supervision of the German Federal Supervisory Authority for Financial Services (BaFin).  The company specializes in the administration of insurance contracts with expired insurance periods.  DARAG AG acquires insurance portfolios from other insurers and ensures, with particular regard to the interests of the insured, that claims are properly settled until the last insurance claim has been satisfied.

DARAG AG is a member of the DARAG Insurance Group based in Malta. Further information can be found on the website at www.

Who will be my contact person for data protection in the future?
As a German company, DARAG is subject to the same German and European data protection regulations as SOVAG and will continue to observe them in the future. Your personal data will be processed by us exclusively in accordance with the applicable data protection regulations.

If you are unable to retrieve the information, you can request it by post.

DARAG Deutsche Versicherungs- und Rückversicherungs-AG
Europa Passage
Hermannstrasse 15
20095 Hamburg

Phone: +49 40 300 928 267


You can reach our data protection officer by post at the following address:

Konsul-Smidt-Strasse 88
28217 Bremen, Germany

Information for policy holders and claimants persuant to Art. 14 GDPR


If you are insured by the following insurance agencies:

  • Ingosure B.V. / CED Claims Management (Netherlands, Belgium)
  • Carl Rieck Assecuradeur GmbH (Germany)
  • Carl Rieck Assecuradeur Hamburg GmbH (Germany)
  • Hamburger Versicherungs-Service AG (Germany)
  • I.B.I.S. Insurance (Belgium)
  • Hemadis España Agencia de Suscripción S.A. / Vindex Bureau S.A. (Spain)
  • Cordina Insurance Angency Limited (Malta)

please get in touch with your insurance agent.

In claims matters, that are not handled by the agencies above, please contact:

Van Ameyde Sevices GmbH
Hohes Gestade 11
72622 Nürtingen

Phone: +49 7022 21827 7700
(Mon. to Fri. from 07:30am – 4:30pm)


If there are any inquiries regarding Re-Insurance topics please write to:


For all other questions please contact:

DARAG Deutsche Versicherungs- und Rückversicherungs-AG
Europa Passage
Hermannstrasse 15
20095 Hamburg

Phone: +49 40 300 928 267
(Mon. to Fri. from 9.00am – 4.00pm)