Press release 12 August 2016
Following intensive negotiations between ERGO and representatives of its co-determination bodies, a reconciliation of interests’ agreement for German sales forces has been reached. By mutual consent, details are not to be disclosed until the beginning of September 2016.
In June, ERGO announced a strategy programme to adapt to the changes on the insurance market. The Group will invest one billion euros to become fit for digital change. In this context, ERGO also announced the cutting of some 1.800 jobs, the majority in sales. Linked to the reduction are the merger of individual sales units to one single tied agent’s organisation and the withdrawal from some decentral locations in Germany.
For further information, please contact:
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. ERGO offers a comprehensive spectrum of insurance, provision and services. In its home market of Germany, ERGO ranks among the leading providers across all segments. About 43,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2015, ERGO recorded a premium income of 17.9 billion euros and rendered benefits to customers of 16.8 billion euros. ERGO is part of Munich Re, one of the world's leading reinsurers and risk carriers.
More at www.ergo.com
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.