Versicherungsverein Rasselstein

The management board (Vorstand), chaired by Beate Kochhäuser, holds ultimate responsibility for investment policy. Deputy chairman Karl-Heinz Krämer serves alongside her on the management board, while Marc Winter chairs the supervisory board (Aufsichtsrat) that monitors the Vorstand's decisions. The association has no separately identified chief investment officer in public records, suggesting a lean internal structure where the Vorstand directly oversees asset allocation and manager selection, typical for a German mutual of its size.

Public records confirm a participating interest in IMMAC Sozialimmobilien 113. Renditefonds GmbH & Co. KG, a German closed-end real-estate fund holding a mixed-use property in Hamburg. IMMAC funds concentrate on nursing homes, assisted-living facilities, and healthcare real estate — assets that generate long-dated, inflation-linked rental income and match the insurer's liability profile. The remaining portfolio is undisclosed but almost certainly consists of German Bunds, covered Pfandbriefe, corporate Schuldschein loans, and possibly direct mortgage loans to members.

No. The association's statutes tie membership to employment with the sponsoring company, historically Rasselstein AG and today ThyssenKrupp Rasselstein GmbH. It operates as a closed occupational insurer — effectively a corporate captive — providing pension, health, and disability benefits exclusively to employees and retirees of the steel works and their dependents. There is no mechanism for outside individuals or companies to join.

While the association does not publish its product catalog publicly, mutual insurance associations (VVaG) of this vintage in German heavy industry typically provide pension supplements (betriebliche Altersversorgung), death-benefit and disability coverage, and supplementary health insurance. The scope is narrow and complementary to the statutory German social-security system, filling gaps negotiated historically between labor and management at the Rasselstein works.

The association falls under the supervision of the German Federal Financial Supervisory Authority (BaFin) and must comply with the German Insurance Supervision Act (VAG) and Solvency II capital requirements. As a small mutual insurer (Versicherungsverein auf Gegenseitigkeit), it likely qualifies for certain proportionality simplifications under Solvency II, but it must still file annual regulatory reporting and maintain risk-based capital buffers.

The IMMAC fund commitment indicates a willingness to invest via external closed-end fund structures rather than building a large in-house direct real-estate operation. IMMAC Investment Management GmbH originates and manages the funds, meaning Versicherungsverein Rasselstein acts here as a limited partner alongside other German institutional investors. Beyond this, no co-investment activity, club deals, or venture-style direct equity investing has been publicly identified.

The association is legally independent of ThyssenKrupp AG and ThyssenKrupp Rasselstein GmbH — a separate mutual-insurance entity with its own governance, balance sheet, and BaFin oversight. In practice, supervisory-board members like Lana Horstmann may hold simultaneous roles within the ThyssenKrupp organization, maintaining a close personal connection. The sponsoring corporation does not consolidate the insurer's assets, and member claims are not guaranteed by ThyssenKrupp.