The financial sector is a driving force in Hamburg, boasting more than 10,000 financial and insurance companies and gross value added of around 5.5 billion euros. The banks, insurance companies and financial service providers have close ties with companies in other sectors, enabling these companies to realise business deals, projects and investments.
Hamburg was once dominated as a financial hub by insurance companies, but following structural changes in the past few years it is now a lot more diversified.
There are still just under 50,000 people working in the financial industry. The city features an excellent mix of specialised financial service providers, internationally successful insurance and finance brokers, investment companies and innovative fintechs, making Hamburg’s financial sector highly dynamic.
In particular, it is the traditionally close ties between the financial sector and companies in other sectors, not to mention the sector’s ties with the fields of politics and administration and with education and science, that make Hamburg such an attractive place.
Hamburg is also Germany’s longest-standing and most diversified exchange centre, boasting a general exchange, a grain exchange, a stock exchange and the country’s only insurance exchange.
Economic data
Key figures of the financial sectors
Data
Number of companies in general:
12.662
- Credit Institution, Holding, Funding
1.977
- Insurance and Insurance Salesman
3.132
- Financial Service Provider, Asset Management, Holding Companies
7.553
Size range of the companies
- 1-6 employees
12.101
- 7-19 employees
323
- 20-99 employees
154
- über 100 employees
84
Current climate in the financial sector
The calculated business climate indicator for the Hamburg economy and the respective sectors results from the assessments of the current situation and future development. The resulting values are between 0 and 200 index points.
