AVAG and AVS Establish Insurance Joint Venture
AVAG Holding SE and Automotive VersicherungsService GmbH (AVS) are deepening their long-term cooperation and founding a joint venture, in which both companies have a 50% stake. It trades under the name AVAG Versicherungsvermittlungs-Gesellschaft mbH and has its headquarters in Augsburg.
The motor insurance services has a key role when it comes to customer loyalty in the dealership, the two partners are convinced. The aim of the joint venture is to bundle the competencies of both companies and thus significantly expand the business with motor vehicle insurance. A particular focus will be on the used car segment, where both business still see a lot of potential.
The joint venture combines the strengths of AVAG in the areas of control and operational procedures in the dealership and the competencies of AVS in product management and sales of insurance in the automotive trade.
About AVAG Holding SE
AVAG is involved in 54 operations with 170 locations in Germany, Austria, Croatia, Poland, Hungary, Serbia and Slovenia. In the financial year 2015/16, the family-owned company sold 112,000 vehicles and generated revenues of over € 1.8 billion. In addition to the dealership sites, the holding company acts as a service provider for the companies, among others in the departments of marketing, IT, insurance, communications, aftersales and field service.