Baltic, Estonia, Financial Services, Insurance

This is the second time when ERGO in the Baltic States has established the European company. Starting from 2011 ERGO successfully operates in life insurance business with the legal form of the European Company as well. Thus ERGO in the Baltic States operates today with two European companies – ERGO Insurance SE and ERGO Life Insurance SE.

Chairman of the Management Board of the ERGO Insurance Group in the Baltic States Kęstutis Bagdonavičius said that the prior objective of the merger is achievement of management-, process- and knowledge related synergies.

"ERGO creates itself a favorable platform to grow sustainably in high competitive markets and thus offer the best possible insurance solutions to customers and be a respectable employer to employees. ERGO has already implemented a unified management steering approach in the Baltic States and merger of legal entities is a consequent step in bringing the Estonian, Latvian and Lithuanian organizations even closer," he said.

The merger of non-life insurance companies in the Baltic States will not cause any changes for customers in the existing agreements.

The head office of ERGO Insurance SE has been registered in Estonia. The non-life insurance companies in Latvia and Lithuania continue business as branches of the European company.

ERGO companies operating in the Baltic countries are part of the international ERGO Group – one of the largest insurance corporations in Europe. Worldwide, the Group is represented in over 30 countries and concentrates on Europe and Asia.

ERGO is part of Munich Re, one of the leading reinsurers and risk carriers worldwide.