Bochumer Versicherungsverein auf Gegenseitigkeit

The Bochumer Versicherungsverein auf Gegenseitigkeit (BVaG) is a German mutual insurance association (Versicherungsverein auf Gegenseitigkeit, VVaG) headquartered in Bochum. It was founded on 16 February 1968 by employees of the Montan industry — the coal, steel and heavy-industry workforce of the Ruhr region — to give industrial workers a way to cover the costs of their own funeral. Over more than five decades it grew into one of Germany's largest providers of Sterbegeldversicherung (funeral-expense insurance) and Bestattungsvorsorge (burial provision), serving more than 115,000 members. The company's core product is a funeral-expense insurance policy that pays a lump sum to the policyholder's family on death, so that relatives are not burdened with the cost of a funeral — which the company itself cites as averaging around EUR 8,000 excluding stonemasonry. BVaG marketed the product as "Persönlich. Sicher. Stark" (Personal. Secure. Strong), emphasising individually tailored tariffs and flexible options, and it also offered Kleinlebensversicherung (small life insurance) tariffs until those were discontinued in 2011. As a mutual, BVaG was owned by its members rather than by shareholders. Its governance consisted of a members' representative assembly (Vertreterversammlung) of 40 members elected every six years, which decided strategic questions and elected a six-member supervisory board (Aufsichtsrat) serving five-year terms; the supervisory board appointed the management board (Vorstand), which ran the operating business. Surpluses were returned to policyholders as bonus payments. BVaG expanded through consolidation, taking over several smaller Sterbekassen (funeral funds) from 2000 onwards, including "Unter uns von 1923 VVaG" and the Betriebssterbekasse Krupp Koppers GmbH, and merging with the Allgemeine Sterbekasse Oberhausen/Duisburg in 2020 and the Begräbnishilfe Berghofen VVaG in 2023, which sharply increased its membership. It introduced euro-denominated tariffs in 2002 and new tariffs in 2011 as part of digitalisation. The company's final years were dominated by financial distress. In its 2025 balance sheet, write-downs of roughly EUR 30 million — about one sixth of its EUR 180 million in capital investments — were required, mainly on investments in retirement-home real estate. No other insurer was willing to buy the portfolio, and the company could no longer meet the statutory minimum capital requirement. In May 2026 the German Federal Financial Supervisory Authority (BaFin) prohibited BVaG from writing new business, and in July 2026 it withdrew the company's licence to conduct insurance operations. Existing contracts continued to be administered and death claims continued to be processed while the supervisory proceedings ran their course.

The Bochumer Versicherungsverein auf Gegenseitigkeit was founded on 16 February 1968 by employees of the Montan industry, with its seat in Bochum. Its purpose was to give workers in heavy industry a way to cover the costs of a funeral, at a time when such costs could fall heavily on a family. In 1988 the association received recognition as a Sterbekasse (funeral fund) from the Bundesanstalt für Finanzdienstleistungsaufsicht, the German federal financial supervisory authority. From 2000 the association began to consolidate the fragmented German funeral-fund market, taking over several Sterbekassen, among them "Unter uns von 1923 VVaG" and the Betriebssterbekasse Krupp Koppers GmbH. In 2002 it introduced tariffs denominated in euro, following the introduction of the euro as physical currency. In 2011, as part of the digitalisation of the Bochumer Versicherungsverein aG, new tariffs were introduced, the small life insurance (Kleinlebensversicherung) tariffs were discontinued, and several mergers were carried out. Further mergers followed: in 2020 with the Allgemeine Sterbekasse Oberhausen/Duisburg and in 2023 with the Begräbnishilfe Berghofen VVaG, both of which substantially increased the membership base. By this period the BVaG had more than 115,000 members and ranked among the largest funeral-expense insurers in Germany. The association was organised as a Versicherungsverein auf Gegenseitigkeit, owing duties exclusively to its members, with surpluses returned to policyholders as bonus payments. Members elected a 40-member Vertreterversammlung (representative assembly) every six years; the assembly decided fundamental strategic questions and elected a six-member Aufsichtsrat (supervisory board) for five-year terms; the supervisory board appointed the Vorstand (management board), which was responsible for the operating business. The company's final crisis unfolded in the mid-2020s. In the balance sheet for 2025, write-downs of approximately EUR 30 million were required, mainly on investments in retirement-home real estate — about one sixth of total capital investments of EUR 180 million. No other insurer was willing to purchase the contracts, and as a result the company could no longer guarantee compliance with the statutory minimum capital. In May 2026 the Bundesanstalt für Finanzdienstleistungsaufsicht prohibited BVaG from writing new business, and in July 2026 it withdrew the company's authorisation to conduct insurance operations. During the supervisory proceedings, existing contracts continued to be serviced and death cases continued to be processed, and the company set up a dedicated information page for members with background and answers to frequently asked questions.

• 2026

  BaFin prohibited BVaG from writing new business.

• 2026

  BaFin withdrew BVaG's authorisation to conduct insurance operations.

• 2025

  Balance sheet required write-downs of approximately EUR 30 million, mainly on retirement-home real estate investments.

• 2023

  Merged with the Begräbnishilfe Berghofen VVaG, further increasing membership.

• 2020

  Merged with the Allgemeine Sterbekasse Oberhausen/Duisburg, sharply increasing membership.

• 2011

  As part of digitalisation, introduced new tariffs, discontinued small life insurance tariffs, and completed several mergers.

• 2002

  Introduced tariffs denominated in euro.

• 2000

  Began taking over several Sterbekassen, including "Unter uns von 1923 VVaG" and the Betriebssterbekasse Krupp Koppers GmbH.

• 1988

  Recognised as a Sterbekasse (funeral fund) by the Bundesanstalt für Finanzdienstleistungsaufsicht.

• 1968

  Founded on 16 February 1968 by employees of the Montan industry, with its seat in Bochum.

A member-owned mutual insurer focused on funeral-expense and burial provision, marketed as "Persönlich. Sicher. Stark" and serving more than 115,000 members.

• Sterbegeldversicherung (funeral-expense insurance)

  A policy paying a lump sum to the family on death, marketed as guaranteeing a dignified funeral and relieving relatives of the financial burden; offered with individually tailored tariffs and flexible options.

• Bestattungsvorsorge (burial provision)

  Advance provision for funeral costs, with the company noting that a funeral today costs on average around EUR 8,000 excluding stonemasonry.

• Kleinlebensversicherung (small life insurance)

  Small life insurance tariffs that were discontinued in 2011.

1. 1BVaG Sterbevorsorge (official website)bv-ag.de
2. 2Bochumer Versicherungsverein auf Gegenseitigkeit – Wikipedia (German)de.wikipedia.org
3. 3Wikidata Q133522157wikidata.org