EU – Baltic States, Financial Services, Insurance

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 11:17

Ergo profit in Baltics amounts to EUR 3.43 mln in H1

BC, Riga, 18.08.2017.Print version
Insurance company Ergo operated with a profit of EUR 3.43 million in the Baltic countries during the first six months of this year, which is approximately 38% more than in the first half of 2016, the company's communications manager Agnese Grinberga told LETA.

Ergo racked up EUR 111 million in premiums in January-June, EUR 15 million up from the first half of 2016, and paid EUR 69 million in compensation claims - EUR 1 million increase on the first half of 2016.


Ergo Group's share of the Baltic insurance market increased from 13.9% in 2016 to 14.2% at end-June.


"The amount of insurance premiums has increased in all three Baltic countries, and in all insurance market segments," said Ergo CEO in the Baltic countries Kestutis Bagdonavicius. The company attained excellent results in health insurance, while in life insurance, the focus was on Ergo portfolio restructuring. In addition, the amount of compensation claims paid to Ergo clients also increased in all three Baltic countries.


In Latvia, Ergo's risk insurance premiums amounted to EUR 14.2 million - 13.3% more than in the first half of 2016, and life and health insurance premiums to EUR 18.3 million, an increase of almost one-fourth on the first half of 2016.


Ergo clients in Latvia were paid EUR 22 million in compensation claims in the first six months of this year.


The Baltic insurance group is part of Ergo International AG, one of Europe's largest insurance companies with headquarters in Dusseldorf.






Search site