Archive 2009

Press releases 2009

ERGO life insurers set overall interest return

Press release 21 December 2009 

The ERGO life insurers have set the rates for 2010 regarding profit participation in life and annuity products. The current interest return for Hamburg-Mannheimer Life has generally been reduced to 4.0 percent (previous year: 4.2 percent) and 4.1 percent (previous year: 4.3 percent) for KarstadtQuelle Life. Overall, the current interest return for Victoria Life has risen to 3.7 percent (previous year: 3.6 percent).

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Jürgen Schmitz is new Board member at ERGO International AG

Press release 9 December 2009

As from 1 February 2010, Jürgen Schmitz will be joining the Board of Management at ERGO International AG in charge of Western and Southern Europe. To date, Dr. Jochen Messemer is in charge of these regions while, at the same time, acting as Chairman of the Board of ERGO International AG.

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ERGO expands bancassurance business in Central and Eastern Europe

Press release 7 December 2009

The ERGO Insurance Group is expanding its bancassurance business in Central and Eastern Europe. In future, the Group will work closely with Bank DnB NORD as regards selling life insurance products in Latvia and Lithuania. Plans for expanding the partnership into Estonia and Poland are in the pipeline.

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ERGO Broker Sales intensifies dialogue with brokers

Press release 1 December 2009

ERGO Broker Sales organised the first Tower Meeting at the Group’s headquarters in Dusseldorf on 30 November. This new meeting targets various broker groups and is planned to take place biannually in future. Rolf Bauernfeind, member of the Board of Management in charge of Broker Sales for the ERGO Insurance Group and initiator of the Tower Meeting said: “This new meeting aims to intensify communication between brokers and ERGO, which is especially important at the current time.”

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Premium Adjustments to Health Insurance

Press release 26 November 2009

ERGO health insurers are reacting to the rise in expenditure for medical treatments: a number of DKV and Victoria tariffs will be subject to premium increases at the beginning of next year.

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Munich Re to take over remaining ERGO shares

Press release 25 November 2009

Münchener Rück AG (Munich Re) today informed the Board of Management of ERGO Versicherungsgruppe AG that it intends to acquire all remaining ERGO shares not yet in its possession.

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ERGO Insurance Group celebrates topping-out ceremony

Press release 24 November 2009

The ERGO Insurance Group is today celebrating the topping-out ceremony for the extension of the main administration building on Fischerstrasse in Düsseldorf together with Düsseldorf’s Mayor Dirk Elbers, as well as representatives from local politics, public administration and neighbours. Up to 900 employees will in future work in the new building which will also house a new computer centre.

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ERGO fosters growth with new brand strategy

Press release 20 November 2009

In the future, the ERGO Insurance Group will sell life and non-life insurance products in Germany under the ERGO brand. The direct insurer KarstadtQuelle Insurance will be renamed ERGO Direct Insurance. Health insurance business will be merged under the brand DKV, legal expenses insurance under the brand D.A.S. The brand ERV will continue to represent travel insurance within the Group. The brands Victoria and Hamburg-Mannheimer will be withdrawn from the market. The rebranding of KarstadtQuelle Insurance is planned as early as the first quarter 2010, overall implementation for the second half of 2010.

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Elisabeth Stadler appointed chairperson of the managing board of ERGO Austria International AG

Press release 16 October 2009

The ERGO Insurance Group has appointed Elisabeth Stadler chairperson of the managing board of the Austrian holding company, ERGO Austria International. She will take up her position on 16 November 2009. This decision will not affect the positions on the boards of the subsidiaries Bank Austria Versicherung, VICTORIA-VOLKSBANKEN Versicherung and ERGO Insurance Service GmbH.

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ERGO expands bancassurance business in Greece

Press release 1 October 2009

The ERGO Insurance Group and Piraeus Bank will be working more closely together in future to sell insurance products in Greece. Representatives of both companies signed an agreement regarding over-the-counter sales of property/casualty insurance products. As from 1 January 2010, Piraeus Bank, which has 360 branches throughout Greece, will be selling non-life insurance products of the Greek ERGO subsidiary of Victoria General on an exclusive basis.

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ERGO motor insurers offer free choice for premium due date

Press release 30 September 2009

Goodbye to November as the month of change: the ERGO Insurance Group has amended its conventional premium due date rule for motor insurance. Since the beginning of this year, D.A.S., Hamburg-Mannheimer and Victoria motor insurance policyholders have been able to choose freely when they wish to pay their premium.

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Ina Kirchhof appointed COO of ERGO Insurance Group

Press release 25 August 2009

The ERGO Insurance Group has appointed Mrs Ina Kirchhof as Chief Operating Officer. As of 1 September 2009 she will also be Managing Director of ITERGO Informations-technologie GmbH, responsible for IT Strategy Operations.

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ERGO life insurers now also offer Riester pension with loan option

Press release 12 August 2009

The recent German ‘Private Home Pension Act’, also known as ‘Wohn-Riester’, has provided all Riester policies with a new feature. Customers can now invest their savings in property instead of a pension, and even a so-called building society savings scheme is feasible. The disadvantage here is that the private supplementary pension is lost. As an alternative, the ERGO life insurers Hamburg-Mannheimer and Victoria are now also offering their Riester customers an attractive loan option. Those who wish to finance their home entirely through the ERGO life insurers can benefit from a low-interest property loan.

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ERGO back to profit in second quarter 2009

Press release 5 August 2009

ERGO was back to the profit zone in the second quarter 2009 after a first quarter loss. The impact of the crisis on capital markets and goodwill impairment losses have put a strain on ERGO Insurance Group’s half-year results. Total premiums grew by 7.8 %. The combined ratio in German non-life insurance remained very positive at 90.6 % (88.4 %).

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MediClin Heart Centre Lahr / Baden and ERGO health insurers have set up quality partnership

Press release 13 July 2009

A quality partnership between the MediClin Heart Centre in Lahr and ERGO health insurers DKV Deutsche Krankenversicherung and Victoria Krankenversicherung has been in operation since 1 July. The aim is to provide optimal care to patients with coronary and heart valve diseases.

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ERGO Management and Group Works Council agree on settlement of interests

Press release 9 July 2009

Following intensive negotiations between ERGO Management and the Group Works Council, an agreement has been reached on the key points and general framework concerning settlement of interests. This means that 1,800 jobs can be cut by the end of 2010 as originally planned. The company management sees the results of negotiations as a great success in order to secure the company’s future. The main points of an ERGO-wide efficiency improvement and cost-savings programme can now be introduced in order to maintain the competitive position of the Group.

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Legal expenses insurance - a winner in times of crisis

Press release 8 July 2009

Good figures and new markets: D.A.S. Rechtsschutz and Hamburg-Mannheimer Rechtsschutz, the two legal expenses insurers within the ERGO Insurance Group, are expanding. As from autumn 2009, D.A.S. will be the first insurance company ever to offer legal expenses insurance in Korea and from spring 2010 also in Canada. The German market has shown that customers trust the know-how of their legal expenses insurance during the financial market crisis.

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ERGO personal accident insurers develop new accident cover with money-back guarantee

Press release 1 July 2009

Since 1 July, Hamburg-Mannheimer and Victoria have launched a single-premium personal accident insurance with premium refunds in addition to policies with regular premium payments and premium refunds. In future, customers will be able to choose between the two, both of which offer cover with a secure financial investment in times of the financial crisis.

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New insurance cover for dog owners

Press release 25 June 2009

There are more than 5 million dogs in Germany alone, and confrontations when out for a walk are not infrequent. If your dog has to see a vet after a quarrel with another dog whose owner is either unknown or cannot pay, as a dog owner you would previously have been left to foot the bill. However, new liability insurance cover now offers protection for dog owners in such and many other cases.

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ERGO receives award for family-friendly HR practices

Press release 17 June 2009

ERGO Insurance Group has been awarded the audit berufundfamilie® certificate. This is given by the non-profit-making Hertie Foundation and honours businesses with a long-term commitment to improving the compatibility of work and family. The certificate was presented to the Chairman of the Board of Management of ERGO Insurance Group, Dr. Torsten Oletzky, in Berlin today by the Federal Minister for Family Affairs, Dr. Ursula von der Leyen. 

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Akin Kozanoglu new CEO for ERGO Group in Turkey

Press release 10 June 2009

The ERGO Insurance Group has appointed a new CEO for its Turkish activities. Mr. Akin Kozanoglu (60) will take over his new office with immediate effect.

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ERGO Life Insurers: providing security in times of uncertainty

Press release 13 May 2009

The ERGO Insurance Group will launch a new unit-linked annuity insurance product in June. This single premium product combines the conventional guarantees of maintaining the capital sum and minimum return with additional profit opportunities. As Dr. Daniel von Borries, member of the ERGO Board of Management, explained at a press meeting of ERGO’s life insurers in Hamburg today, the new annuity insurance thereby combines security with profit potential. 

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ERGO Life insurers make valuation reserves more transparent for their customers

Press release 30 April 2009

Starting today, Hamburg-Mannheimer Versicherungs-AG and Victoria Lebensversicherung AG will publish their valuation reserves monthly on their websites. With this move, the two ERGO Insurance Group life insurers set new standards for the industry regarding transparency and customer orientation.

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ERGO Health Insurers: Into the Future with Innovation

Press release 31 March 2009

In the 2008 financial year, the performance of ERGO health insurers - DKV Deutsche Krankenversicherung AG and Victoria Krankenversicherung AG - was satisfactory despite the difficult political and economic environment. At the annual press conference in Cologne the two companies announced their positive annual results. Following the integration of Europäische Reiseversicherung, the ERGO Insurance Group is setting up a centre of travel expertise. 

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Dr. Ulf Redanz to leave Hamburg-Mannheimer's Boards of Management

Press release 30 March 2009

Dr. Ulf Redanz will resign from the Boards of Management of life insurer Hamburg-Mannheimer Versicherungs-AG and non-life insurer Hamburg-Mannheimer Sachversicherungs-AG as of 31 March 2009.

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ERGO counts on financial strength and security

Press release 23 March 2009

ERGO has achieved a profit in the difficult financial year 2008. Following the crisis on financial markets and impairment losses of goodwill, at € 92m the annual profit fell considerably compared to the previous year (€ 781m).  This sharp drop was heavily influenced by the lower investment result. ERGO deliberately abstained from making use of accounting options and adhered to the conservative valuation used before, counting on its financial strength and security. Total premium income went up by 1.9% to € 17.7bn (17.4bn). The ERGO Insurance Group presented its balance sheet figures at today’s press conference on the financial year 2008.

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ERGO seeks new partner for life business in India

Press release 18 March 2009

ERGO Insurance Group and Indian HERO Group decide not to pursue the intended life insurance joint venture. The HERO Group will not diversify into life insurance business at this time. ERGO, however, sees good potential in the Indian life insurance market and will actively seek market entry.

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Laying the foundation stone for ERGO Insurance Group's new extension

Press release 5 March 2009

ERGO Board of Management members Dr. Bettina Anders and Christian Diedrich today laid the foundation stone for the new extension on Fischerstraße together with Dirk Elbers, Lord Mayor of the City of Düsseldorf.

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ERGO life insurers rated 'good' by TÜV

Press release 25 February 2009

Both of the major life insurance companies in the ERGO Insurance Group, Hamburg-Mannheimer and Victoria, have had the quality of their service tested by the German Technical Inspection Association, TÜV Süd, for the first time and were rated ‘good’. In 2007 the Hamburg-Mannheimer and Victoria retirement funds (Pensionskassen) were also rated ‘good’ by TÜV Süd.

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New Board of Management Team for EUROPÄISCHE

Press release 19. February 2009

MUNICH (w&p) – New Board of Management for Germany’s market leader in the travel insurance segment: as of 1 May 2009 the fate of EUROPÄISCHE Reiseversicherung will be in the hands of a three-member  Board of Management team headed by Chairman of the Board Richard Bader (41). 

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ERGO achieves profit in crisis year 2008

Press release 4 February 2009

The ERGO Insurance Group has achieved a profit in 2008 and has made significant progress towards realising its strategic objectives. However, 2008 has been a difficult year. The crisis on financial markets has left its mark on the accounts.

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Change at the helm of Europäische Reiseversicherung

Press release 14 January 2009

A new chairman will shortly take over at Europäische Reiseversicherung. The current chairman, Wolfgang Diels, will move to the International Health Committee at Munich Re. His successor will be Board of Management colleague Richard Bader.

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ERGO and Arcandor affirm sales partnership and realign subsidiaries

Press release 5 January 2009

ERGO Versicherungsgruppe AG and Arcandor AG have affirmed their successful sales partnership while also agreeing to realign their financial services subsidiaries. As a result, KarstadtQuelle Bank moves to Arcandor AG and the remaining stake in KarstadtQuelle Versicherungen is acquired by ERGO. Corresponding agreements were signed at the end of 2008.

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