ottonova Private Health Insurance: Profile and Key Figures for Expats
ottonova private health insurance explained for expats: legal form, solvency ratio, premiums and what is not disclosed, with reported 2025 figures and sources.
This page looks at ottonova private health insurance from the financial side. It lists figures that ottonova itself has reported for 2025, explains in plain English what each one means, and shows where it comes from. It is not a rating, a ranking or a recommendation. It does not list tariff prices, because those depend on your age, health and plan.
ottonova company profile
The legal entity is ottonova Krankenversicherung AG, a stock company. According to its SFCR 2025, it reported gross premiums of 53,977 TEUR for 2025 (2024: 38,149 TEUR, +41%). TEUR means thousand euros, so this is about 54.0 million euros. That makes it a much smaller insurer than the long-established companies in the market, and a fast-growing one.
Stock company (AG) and what it means for policyholders
ottonova's legal form is an Aktiengesellschaft (AG). Other insurers, such as Hallesche, are mutual associations (Versicherungsverein auf Gegenseitigkeit, a.G.). The difference in plain terms:
| Point | Stock company (AG) | Mutual (a.G.) |
|---|---|---|
| Owners | Shareholders own the company. | The policyholders are the members. No outside shareholders. |
| Surplus | Shareholders can receive a share of profit, within legal limits. | Stays in the company and is used for policyholders, mainly through the premium refund reserve (RfB). |
| Raising capital | Can raise capital from investors, which can help a young insurer grow. | Mainly from retained surplus. |
For you as a policyholder, the legal form does not change your contract or your tariff benefits. It is background, not a quality mark either way.
Key financial figures
All figures are as reported by ottonova in its SFCR 2025 (solvency and financial condition report). The documents we reviewed contain no annual report, so only the figures below are available. Where a figure is missing, we say so and have not filled it in.
| Figure | 2025 | 2024 |
|---|---|---|
| Solvency ratio (SCR ratio) | 212% | 217% |
| MCR ratio | 679% | 398% |
| Own funds vs SCR | 18,330 TEUR vs 8,648 TEUR | 10,741 TEUR vs 4,946 TEUR |
| Gross premiums | 53,977 TEUR | 38,149 TEUR (2025: +41%) |
| Technical provisions (HGB, gross, total) | 58,415 TEUR | not disclosed in the documents we reviewed |
| Technical result | -368 TEUR | -2,262 TEUR |
| Equity (HGB) | 704 TEUR | 1,604 TEUR |
| RfB allocation (compulsory long-term care only) | 1,830 TEUR | not disclosed in the documents we reviewed |
Source: ottonova SFCR 2025 (PDF pp. 3, 8, 9, 26, 30, 35-37; link in Sources). The 2024 SCR and MCR ratios are printed in the report (PDF p. 37). The report states that no volatility adjustment and no transitional measures were applied to the 2025 ratio.
What the figures mean
Solvency ratio
The SCR ratio compares an insurer's eligible own funds with the capital that European rules (Solvency II) require it to hold. A ratio of 100% would mean exactly the requirement. ottonova reports 212%, so its own funds were about 2.1 times the required amount (18,330 TEUR against 8,648 TEUR). The MCR ratio, a second and lower threshold, is reported at 679%. The absolute amounts are small compared with large established insurers, because ottonova is a small company. A ratio expresses the relation between funds and requirement, not the size of the company, and a growing insurer's requirement rises as its business grows.
Premium growth
Gross premiums rose 41% in 2025, from 38,149 TEUR to 53,977 TEUR. This shows a growing customer base. Growth means more business to fund, which is why the requirement also rose between 2024 and 2025.
Technical provisions and ageing provisions
Private premiums are calculated so that part of what you pay in younger years is set aside to fund higher expected claims at older ages (ageing provisions, Alterungsrückstellungen). ottonova's report gives a total of gross technical provisions under German commercial law (HGB) of 58,415 TEUR, but does not split out the ageing provisions. We therefore cannot state an ageing provisions figure. As a young portfolio, the reserve is still being built up.
Technical result and equity
The report shows a technical result of -368 TEUR for 2025 (2024: -2,262 TEUR) and HGB equity of 704 TEUR (2024: 1,604 TEUR). A negative technical result means that the insurance business itself did not cover its costs in that year. The report says the negative result is planned, because growth has to be financed, and describes it as usual for a new and growing health insurer (PDF p. 9). The Solvency II own funds of 18,330 TEUR are higher than the HGB equity mainly because technical provisions are valued differently under the two sets of rules (reconciliation on PDF p. 36). We draw no further conclusion from these numbers.
RfB
The premium refund reserve (Rückstellung für Beitragsrückerstattung, RfB) holds surplus that belongs to policyholders and can be paid back as refunds or used to soften premium increases. The report shows an RfB allocation of 1,830 TEUR in compulsory long-term care insurance only. An RfB ratio for the full insurance business is not disclosed in the documents we reviewed.
What is not disclosed in the documents we reviewed
We found only solvency reports (SFCR) on ottonova's website, and no annual report. The annual financial statements may be published in the Bundesanzeiger, but we did not retrieve them. For that reason, the following are not disclosed in the documents we reviewed, and we have not calculated them ourselves:
- Number of persons with full cover
- Ageing provisions as a separate figure
- Administration cost ratio and acquisition cost ratio
- Claims ratio (Schadenquote)
- Net investment return
- Surplus usage ratio
- RfB ratio for the full business
Because of this, we show no market comparison on this page. You can ask ottonova or an independent consultant for these figures.
Premium adjustments: what ottonova reports
Private premiums can be adjusted when actuarial calculations require it, at every insurer. Our premium increases explainer covers how and why this happens and what you can do about it. For ottonova, the SFCR 2025 states:
- Rising costs can be compensated by a premium adjustment (SFCR 2025, p. 4).
- Rising premiums are expected for full and supplementary products (SFCR 2025, p. 4).
- Customers may react to future adjustments with higher lapse (SFCR 2025, p. 27).
- A quantified 2025 adjustment is not disclosed in the documents we reviewed.
Your own premium path depends on your tariff. Ask for the tariff's increase history. Since ottonova is a young insurer, its tariffs may have only a short history, which is worth knowing before you compare it with tariffs that have 10 to 15 years of data.
Who ottonova may suit as an expat
ottonova sells full private health insurance. That is relevant if you are legally able to choose private cover: employees above the 2027 income threshold of €84,150 per year (€7,012.50 per month; €77,400 in 2026), freelancers and the self-employed at any income, and civil servants. The 2027 figure was approved by the federal cabinet and still needs Bundesrat approval, expected in November 2026. See who qualifies for private health insurance.
Our insurer shortlist describes ottonova as fully digital with an English app and support. That description is not from the financial documents used on this page, so confirm current English-language availability for contract documents and claims support directly before you apply. Also check that the plan is a full private plan (Vollversicherung), not a visa-only plan.
Financial strength is one factor, and tariff choice matters more. Two tariffs at the same insurer can differ a lot in cover, deductible and premium path. Use the figures above as one input next to the tariff's benefits, its increase history and claims handling.
FAQ: ottonova private health insurance
Is ottonova a mutual insurer or a stock company?
What was ottonova's solvency ratio in 2025?
How large is ottonova?
Why are there fewer figures than on other insurer pages?
Will my ottonova premium go up?
Does ottonova offer English-language service?
Sources
Figures checked on 16 October 2026. Page numbers are PDF page indices. Figures are as reported by the insurer for the stated year and may be revised in later reports.
- ottonova solvency report 2025 (pp. 3, 4, 8, 9, 26, 27, 30, 33, 35-37): SFCR 2025 ottonova Krankenversicherung AG
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