Landeskrankenhilfe V.V.a.G. (LKH)
Also known as LKH, Landeskrankenhilfe, LKH Lüneburg
Lüneburg mutual private health insurer with €9.2bn of investments (2025), mainly bonds, extended into property, infrastructure, private debt and private equity; €380m in alternative funds.
Lüneburg mutual private health insurer; not the Landeslebenshilfe V.V.a.G. i.L. (LLH, a separate life mutual in liquidation whose policies moved to Frankfurter Lebensversicherung) and not the German abbreviation LKH for Landeskrankenhaus.
- HEADQUARTERS
- Lüneburg, Germany
- FOUNDED
- —
- AUM
- €9.2B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 5 people
Focus
- STAGES
- —
- SECTORS
- —
- ASSET MIX
- Private equityPrivate creditReal estate
- GEOGRAPHY
- —
Overview
Landeskrankenhilfe V.V.a.G. is a mutual private health insurer based in Lüneburg, supervised by BaFin. Its investments rose 2.3% to €9.20bn in 2025. Most of the portfolio is a broadly diversified bond book, which it is extending with real estate and alternative assets such as infrastructure, private debt and private equity; its 2025 report also mentions unlisted participations. At end-2025 it held €379.9m in alternative investment funds and €212.4m in real-estate funds, and had €90.9m of future capital-contribution obligations from investments.
PORTFOLIO (1)
- HF-Fonds VII Unternehmensbeteiligungsgesellschaft mbH (20% of capital; equity €67.2m)
People
- Dr. Matthias BrakeChairman of the Board of Management; responsible incl. for investments (front office), investment controlling and back office · source
- Gisela LenkBoard member (underwriting, policy administration, claims, data protection, insurance law) · source
- Jan-Peter DiercksBoard member (sales, marketing, service centre, central administration) · source
- Dr. Wolfgang WalzChairman of the Supervisory Board (Aufsichtsrat) · source
- Pavel BerkovitchBoard member (IT and digitalisation, risk management, organisation, product management) · source
Links
Frequently asked questions
Landeskrankenhilfe V.V.a.G. (LKH) is a institutional investor based in Lüneburg, Germany.
Yes. Landeskrankenhilfe V.V.a.G. (LKH) invests its own capital in private companies. It also commits capital to third-party funds as an LP.
Key people at Landeskrankenhilfe V.V.a.G. (LKH) include Dr. Matthias Brake (Chairman of the Board of Management; responsible incl. for investments (front office), investment controlling and back office), Gisela Lenk (Board member (underwriting, policy administration, claims, data protection, insurance law)), Jan-Peter Diercks (Board member (sales, marketing, service centre, central administration)) and Dr. Wolfgang Walz (Chairman of the Supervisory Board (Aufsichtsrat)).
Landeskrankenhilfe V.V.a.G. (LKH)'s investments include HF-Fonds VII Unternehmensbeteiligungsgesellschaft mbH (20% of capital; equity €67.2m).
No. Landeskrankenhilfe V.V.a.G. (LKH) invests its own capital and does not raise money from outside investors.