# Hannoversche Leben

Hannoversche Leben is an Insurance based in Hannover, Germany.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Hannover, Germany
- **Region:** Europe
- **Address:** Hannover, Germany
- **Founded:** 1875
- **Assets under management:** Undisclosed
- **Website:** hannoversche-leben.de
- **LinkedIn:** https://www.linkedin.com/company/hannoversche-lebensversicherung-ag

## Regulatory record

- **Reports private funds:** No

## About

Hannoversche Leben began underwriting life insurance policies in 1875 and has operated since 2004 as a subsidiary of VHV Holding AG, which is itself wholly owned by VHV Vereinigte Hannoversche Versicherung a.G., a large German mutual insurance association. The firm's capital base derives from German individual and corporate life insurance policyholders rather than a single family or state sponsor. The firm's alternative investment program is executed through Wave Asset Management, which functions as its internal alternatives arm. The portfolio spans direct real estate holdings — including office properties like VHV-Platz 1 in Hannover and residential assets under the NordKrone brand — as well as allocations to infrastructure, private credit, and hedge funds. The firm's real estate strategy includes direct development and holding of German commercial and residential properties through vehicles such as Hannoversche MediumInvest, MaxInvest, and BasisInvest. The insurance group operates from its Hannover headquarters with a board led by Frank Hilbert, under the supervisory oversight of Chairman Uwe H. Reuter and the broader VHV Gruppe leadership of Thomas Voigt. The firm's corporate architecture places Hannoversche Leben as a regulated German life insurer with capital governed by Solvency II requirements, distinguishing its allocation timelines and liquidity mandates from those of discretionary family offices. The VHV Stiftung serves as the group's primary philanthropic vehicle. Hannoversche Leben's structural differentiator is its position as a mutual-owned insurer deploying policy reserves — not a conventional asset manager raising third-party capital. This creates an allocation mandate shaped by insurance liability matching, with alternative assets serving long-duration general account needs rather than return-seeking alone. The permanent capital base of a mutual insurer removes redemption pressure, enabling patient deployment into illiquid strategies that family offices routinely target.

## Sectors

- Real Estate
- Private Credit
- Infrastructure
- Hedge Funds

## People

- Frank Hilbert — Spokesman of the Board
- Thomas Voigt — Chairman of the Board of Directors, VHV Gruppe
- Uwe H. Reuter — Chairman of the Supervisory Board

## Questions

### Who makes investment decisions at Hannoversche Leben?

The firm operates under the leadership of spokesman Frank Hilbert, with ultimate governance through VHV Gruppe's board led by Chairman Thomas Voigt and Supervisory Board Chairman Uwe H. Reuter. Alternative asset management is formally executed through Wave Asset Management, which serves as Hannoversche Leben's dedicated alternatives manager and handles portfolio construction and manager selection across the alternatives program.

### How does Wave Asset Management relate to Hannoversche Leben?

Wave Asset Management functions as Hannoversche Leben's internal alternative asset manager. This structure allows the insurance company to deploy policyholder capital into alternatives — including real estate, infrastructure, private credit, and hedge funds — through a dedicated entity that operates under the same ultimate mutual-ownership umbrella as the insurer. The arrangement mirrors the captive asset-manager model seen at several large European insurers.

### How does Hannoversche Leben's mutual ownership structure affect its investment strategy?

As a subsidiary of VHV Vereinigte Hannoversche Versicherung a.G., a mutual insurance association, Hannoversche Leben has no shareholder dividend requirements. This means investment returns serve policyholder obligations and reserves rather than equity holder payouts. The mutual structure provides a permanent capital base, allowing the firm to tolerate longer lock-up periods in alternative assets without liquidity pressure from external shareholders.

### What real estate does Hannoversche Leben own directly?

The firm's direct real estate holdings include VHV-Platz 1, its flagship commercial office property in Hannover, and the NordKrone residential portfolio. It operates several investment vehicles dedicated to real assets, including Hannoversche MediumInvest, MaxInvest, and BasisInvest, which hold German properties across both commercial and residential sectors.

## Related profiles

- [Hannoversche Kassen](https://altss.com/profile/hannoversche-kassen)
- [Hanover Advisors](https://altss.com/profile/hanover-advisors)

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Last updated: 2026-06-03T20:00:00.000Z

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