Financial Services

If you drive from the airport via the motorway to Munich, you can’t miss the Allianz Arena. The striking stadium with its unusual architecture impressively underlines Bavaria’s status as one of the most important locations for financial services. In terms of the number of its financial institutions, Bavaria is Germany’s largest banking centre. Numerous banks, asset management and investment companies, along with a well-functioning public capital market, ensure that money flows freely in the Free State.

At the same time, leading national and international insurance companies provide coverage for commercial and industrial customers. Bavarian companies therefore have the greatest access to capital and risk coverage, which provides the basis for economic growth and an increasing number of secure jobs.

Bavaria, the federal state of banks

No other German state boasts more banks than Bavaria. A good fifth of German credit institutions are located in the Free State. Especially medium-sized and smaller, regionally rooted financial institutions form a tightly-knit financial network in the state. And they create jobs as well: With 107,000 employees, Bavaria is the second most important employer in the German banking and savings bank sector.

The greater Munich area in particular boasts exceptional financial power within Europe. This is evident in the traditional banking and insurance business as well as in asset management, venture capital financing, leasing and factoring solutions – and of course on the Munich Stock Exchange. Numerous leading companies in the industry have their headquarters in the state capital, including Bayerische Landesbank, Stadtsparkasse München, Deutsche Pfandbriefbank and Unicredit Deutschland.

After Munich, Nuremberg is the Free State’s second major financial centre, with more than 15,000 people working in the financial and insurance services sector. Numerous companies, associations as well as scientific and governmental institutions of the financial industry have joined together to establish regional networks that act as a representation of the interests of the respective financial centre, for example, the Munich Financial Centre Initiative (FPMI).

Playing it safe: Bavaria is also a leader in insurance

The insurance industry also benefits from the Free State’s strong growth. Around 100 insurance companies have their headquarters in Bavaria, making the state one of the world’s leading locations for insurance. In the last 30 years, Bavaria’s banking and insurance sector has grown by a remarkable 59 percent. With 63,000 employees, Bavaria is also the second largest German employer in the insurance sector. And this number does not even include the more than 45,000 self-employed Bavarian insurance agents and consultants.

The state capital of Munich is the industry hotspot and the largest insurance centre in Germany based on the number of employees. Here, the most important global players in the industry have congregated, including Allianz AG, Munich Re – the largest reinsurer in the world – or Versicherungskammer Bayern. With Nuremberg and Coburg – or more precisely with Nürnberger Versicherung and HUK-Coburg – the Franconian region also plays a significant role in the insurance industry.

So, you can rest assured that in Bavaria, you will encounter a wealth of financial expertise, allowing you to build bridges to the industry with your business event.