ERGO International AG appoints Maciej Szyszko to be the new CEO for non-life business in Russia

Press Release, 04.06.2018

Subject to official approval, ERGO International AG has appointed Maciej Szyszko to be the new Chief Executive Officer for ERGO non-life business in Russia. Maciej Szyszko is appointed as part of a management restructuring programme to comply with the amended governance regulations which came into effect in 2018 in Russia. Under these new regulations, one person may not be in charge of two independently operating insurance companies with equal rights. The current CEO Dmitri Demidov remains at the head of ERGO Life Insurance in Russia. As a result of this move ERGO International AG is strengthening its corporate structure and capability in the Russian market.

In his new position Maciej Szyszko will concentrate particularly on the positioning of the ERGO non-life business by means of competitive products and services for the Russian market. The 44-year-old finance and insurance expert came to ERGO from his position as CEO for PZU Ukraine, a subsidiary of the Polish PZU SA Insurance Group. Under his successful guidance, PZU became a market leader in the Ukrainian non-life business.

Dmitri Demidov, previously responsible for ERGO's life and non-life business in Russia, will now concentrate on the onward development of the life business in a challenging competitive environment.

For further information, please contact:

Ronny Winkler

Media Relations

Tel +49 211 477-3012
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 42,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2017, ERGO recorded a premium income of 19 billion euros and rendered benefits to customers of 18 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.

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