Abstract: An apparatus for producing a printed mailing has an accumulator module in which an envelope and an insert are compiled to a set. In a folding module arranged downstream of the accumulator module, the set is folded to form the printed mailing. In the accumulator module the envelope is positioned displaced relative to the insert and the set is folded at least twice in the folding module. In the method for producing a printed mailing, an envelope and an insert are complied to a set. The envelope is positioned such that a first end portion of the envelope projects past the insert transversely to a folding edge. Envelope and insert are folded jointly such that a second end portion of the envelope is positioned between two layers of the folded insert. The first end portion is then folded across a section of the envelope that encloses the insert.