Gothaer Insurance Group

Investment decisions are made by Gothaer's internal asset management team under the leadership of Group CEO Oliver Schoeller, who serves as Co-CEO of the combined BarmeniaGothaer entity. The group does not outsource its chief investment function. Schoeller has overseen the integration of Gothaer's investment operations with its mutual merger partner since 2023.

As a mutual insurer owned by policyholders rather than shareholders, Gothaer faces no external earnings pressure. This allows the group to pursue an asset-liability matching strategy that favors long-duration, income-generating real assets such as commercial property, infrastructure, and renewable energy projects. The structure reduces the need for liquid, mark-to-market securities that listed insurers often hold in larger proportion.

Gothaer invests both directly and through industry vehicles. Its direct holdings include office properties in Cologne such as the Arnoldiplatz headquarters and the Gothaer Allee complex, as well as a broader European commercial real estate portfolio. The group is also a member of INREV, indicating participation in non-listed real estate funds alongside direct ownership.

Gothaer is a signatory to the UN Principles for Responsible Investment and has built a global renewable energy portfolio that includes direct investments in energy transition assets. The group integrates ESG factors into its investment process as part of its mutual mandate, reflecting the long-term orientation of its policyholder base.

Gothaer and Barmenia Versicherungen merged in September 2023 to form BarmeniaGothaer, a combined mutual insurance group. Oliver Schoeller serves as Co-CEO of the merged entity. The merger consolidated two of Germany's larger mutual insurers, expanding the combined investment portfolio and policyholder base under a single governance structure.

Gothaer's portfolio spans real estate, infrastructure, renewable energy, private credit, and public fixed-income instruments. The group favors real assets that generate long-duration income streams aligned with its insurance liabilities, rather than short-duration trading strategies. Its real estate exposure is concentrated in European commercial property.

Yes. Gothaer is a UN PRI signatory, a member of INREV for non-listed real estate practices, and participates in Eurapco, an alliance of large European mutual insurers that shares investment and operational best practices. It is also active in the German Insurance Association's regulatory and property commissions.