Sterbekasse für die Angestellten der Deutsche Bank Gruppe

Sterbekasse für die Angestellten der Deutsche Bank Gruppe

The Sterbekasse operates as a smaller mutual insurance association (VVaG) regulated by BaFin, providing benefits solely to employees of the Deutsche Bank Group. Managing Director Claus Abb leads the organization alongside Director Martina Klee and Supervisory Board member Georg Schuh, who concurrently serves as Managing Director at DWS International GmbH. The closed structure means the capital base is limited to current and former Deutsche Bank staff. Investment activity is visible across two asset classes. The firm maintains a directly held real estate portfolio consisting of mixed-use properties located in Germany. This is held alongside a dedicated fixed income portfolio, also deployed within the German market. The dual-allocation structure suggests a conservative, income-oriented strategy consistent with an insurer's liability-matching profile, though no specific holdings or external managers are publicly disclosed. The firm's scale remains opaque — no total asset figures are published. Governance flows through a member assembly; the 2026 annual meeting is scheduled for July 6, 2026 in Frankfurt, with the 2025 annual report made available to members through the firm's website. The Supervisory Board includes representation from DWS, reinforcing the deep operational link to the Deutsche Bank ecosystem. Unlike commercial insurers, the Sterbekasse's structural differentiator is its closed, non-competitive membership pool. It does not market to the public, compete for retail flows, or face shareholder return requirements. That captive mandate — serving one corporation's workforce — isolates it from market-wide lapse risk and creates a permanent, relationship-driven capital base governed by a member-elected supervision board with direct ties to Deutsche Bank's asset management arm.