ERGO and IBM agree on life portfolio management partnership

Press Release, 22.02.2018

ERGO will migrate the management of its book of six million traditional life insurance contracts to a new, state-of-the-art IT platform. The migration takes place in cooperation with IBM Deutschland GmbH. In the medium term, the new platform will be capable to offer the possibility of managing the contracts of other insurance companies. To build this business, ERGO and IBM have entered into a joint venture.

Clemens Muth, member of the Executive Board of ERGO Group AG responsible for life and health insurance: "We want to migrate our book of business to a modern IT platform. This new IT platform from ERGO and IBM will also provide the opportunity for professional management of traditional life books for third parties after implementation."

Markus Koerner, Solution & ISBD Leader for DACH, IBM Global Technology Services adds: "With our joint venture, we are creating an attractive offer for German life insurers who want to keep their holdings of classic life insurance policies in their own hands, but manage them efficiently."

By bundling their competencies, the two companies are creating the conditions for a powerful new offer on the market. Michael Fauser, CEO of ERGO Lebensversicherung AG and Victoria Lebensversicherung AG: "For such a complex and lengthy process as an IT migration, good cooperation is particularly important. IBM convinced us in our intensive selection process." Markus Koerner adds: "We are firmly convinced of the success of our cooperation. Not least because of this, in addition to the pure changeover we are also committed to the later operation of the platform for ERGO and other insurers.”

For further information, please contact:

Tina Kunath

Media Relations

Tel +49 211 477-2324
Fax +49 211 477-3113

About the ERGO Group AG

ERGO is one of the major insurance groups in Germany and Europe. Worldwide, the Group is represented in over 30 countries and concentrates on Europe and Asia. Within the group, three entities manage domestic and international business, as well as digital and direct business (ERGO Deutschland, ERGO International and ERGO Digital Ventures). About 44,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2016, ERGO recorded a premium income of 17 billion euros and rendered benefits to customers of 16 billion euros. ERGO is part of Munich Re, one of the world's leading reinsurers and risk carriers.
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This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Group. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forwardlooking statements or to conform them to future events or developments.