Gotha is considered the cradle of the German insurance industry. The merchant's son Ernst Wilhelm Arnoldi founded the first mutual fire insurance bank here in 1820 and the first life insurance bank on German soil in 1827. The offices of his companies were initially located in the guild hall on the lower Hauptmarkt until they were later given their own prestigious buildings in Bahnhofstrasse. The headquarters of Gothaer Lebensversicherungsbank, an eclectic building designed by Bruno Eelbo, was completed in 1894.

The building became the headquarters of the state insurance company of the GDR around 1945. After reunification, it was bought back by the insurance group "Gothaer Versicherung", which goes back to Arnoldi's company, and underwent extensive renovation. It is now home to the Thuringian Finance Court and the Gotha Social Court as well as the Ernst Wilhelm Arnoldi German Insurance Museum. In the historic boardrooms of the insurance company, visitors can learn all about the origins of the modern German insurance industry and the achievements of Arnoldi, who made a decisive contribution to professionalizing life insurance with statistics, mathematics and medical examinations.

The "Steps of Life" relief created by Adolf Lehnert in 1904 in the spacious stairwell impresses visitors, as does the "SERENADE" concert series, which takes place here in the foyer of the museum.