DORA Compliance in Munich
Munich is the undisputed insurance and reinsurance capital of the world, home to Allianz (€150B+ in revenue), Munich Re (the world's largest reinsurer), and Versicherungskammer Bayern. The city also hosts major banks like HypoVereinsbank (UniCredit) and BayernLB, alongside a booming InsurTech scene with companies like wefox, FRIDAY, and Getsafe. Munich's unique combination of traditional insurance giants and tech startups creates diverse compliance needs.
Request a demoWhy DORA matters in Munich
The Digital Operational Resilience Act (DORA) requires financial entities to implement comprehensive ICT risk management frameworks, including incident reporting, resilience testing, and third-party oversight. Mandatory since January 17, 2025, it applies to over 22,000 financial entities across the EU.
DORA applies to insurance and reinsurance undertakings just as it does to banks. For Munich's insurance sector — managing trillions in global risk exposure — digital operational resilience is critical. Munich Re alone covers cyber risks worth billions, making their own ICT resilience a matter of systemic importance. BaFin's VAIT requirements (Versicherungsaufsichtliche Anforderungen an die IT) complement DORA with insurance-specific IT governance rules. The local InsurTech ecosystem, processing sensitive health and property data, also faces stringent GDPR and DORA obligations.
Supervisory Bodies
BaFin, EIOPA
Key Industries
- Insurance & Reinsurance
- InsurTech
- Private Banking
- Automotive Finance
Notable financial institutions in Munich
DORA Key Requirements
Related Resources
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