30 October 2007
ERGO – A Brief Profile
The ERGO Insurance Group is a leading European insurer and no. 2 in the German primary insurance market. It has extensive experience in developing and managing multi-channel distribution networks and provides focused marketing and product offerings for different customer groups based on their needs. Reinforcing its commitment to and interest in the fast-growing Indian insurance market, ERGO opened its representative office in Mumbai, on 3 May 2007.
ERGO intends to be permanent first choice for all insurance and provision needs. The group’s extensive experience in developing products and in creating multi-channel distribution networks enables it to deliver the most suited product in terms of price, needs and services. ERGO is providing first-choice insurance and provision solutions both to private and corporate customers. Customer-focused solutions for covering small as well as large commercial risks have enabled ERGO to build strong and long-term relationship with its clients.
High standards of business ethics in the industry, following the German Code of Governance, transparency with customers and benchmark processes have resulted in 33 million customers in 25 countries placing their trust in the companies of the ERGO Insurance Group. In Germany, ERGO is one of the leading providers in almost every insurance segment. Outside Germany, the ERGO Insurance Group operates in 24 countries. In the segments of health insurance and legal expenses, ERGO is the European market leader. ERGO’s European P&C insurance operations span Europe from the Baltics to Turkey and from Portugal to Poland and hold a top 1 to top 3 position in many markets.
More than 50,000 people work for the group. ERGO’s tremendous strength in sales is based on more than 22,000 independent sales representatives, as well as brokers and well-positioned distribution partners in Germany and abroad, such as the leading European bank Unicredito and the German retail group KarstadtQuelle. Combined with funds by MEAG, the joint asset manager of Munich Re and ERGO, this opens up the whole breadth of financial services for ERGO’s customers, permitting ERGO to offer integrated insurance solutions in all matters.
Munich Re holds 94.7% as a major shareholder. ERGO stands for primary insurance. The Munich Re Group operates worldwide to turn risks into value from primary insurance and reinsurance.
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