ERGO Mobility Solutions: Executive Management for the new company has been appointed
Press release 21.12.2016
On 1 January 2017, the newly established ERGO Mobility Solutions GmbH will start its operations. The company aims to develop strategic international cooperations with the automotive industry and car trade. Philipp Grosse Kleimann, Thorsten Liebert, Michael Müller and Jürgen Thiele will form the Executive Management. They will report to Karsten Crede who will at the same time join the Board of Management at ERGO Digital Ventures AG, the digital business unit of ERGO Insurance Group at Düsseldorf. „We were able to form an excellent team of experienced industry experts in automotive financial services for the Executive Management of ERGO Mobility Solutions“, says Mark Klein, Chief Executive Officer at ERGO Digital Ventures AG.
Monika Sebold-Bender to complete the Board of Management at ERGO Group AG
Press release 21.11.2016
Monika Sebold-Bender will join the Board of Management at ERGO Group AG in Düsseldorf on 1 January 2017. She will take over responsibility for Global Property & Casualty (P&C) from Christian Diedrich who will retire at the end of 2016.
Alexander Ankel to head ERGO International AG
Press release 28.9.2016
Alexander Ankel will assume responsibility for the international business of the ERGO Group as Chief Operating Officer (COO) of ERGO International AG. He will take over from Jochen Messemer who will leave the Company at the end of the year. Alexander Ankel will join the ERGO Group on 1 November 2016; the primary insurer is operating in over 30 countries. The appointment is subject to the usual reservations by the German Financial Supervisory Authority.
Johannes Lörper to retire – Sebastian Rapsch appointed to Board of Management
Press release 19.9.2016
Changes to the health insurer DKV AG Board of Management in Cologne: Johannes Lörper (63) will be retiring on 30 September 2016, Sebastian Rapsch (44) will strengthen the Board of Management as from 1 October 2016. To date, Rapsch has been responsible for ERGO Group AG Corporate Development. His successor has not yet been decided. Johannes Lörper has been a member of the DKV Board of Management since 2014. He has also held numerous posts in the ERGO Group since 2002.
Bortenlänger member of the Supervisory Board of ERGO Insurance Group
Press release 26 January 2012
Since 1 January 2012, Dr. Christine Bortenlänger, member of the Board of Management of Bayerische Börse AG and member of the Executive Board of Munich Stock Exchange, has been appointed a new member of the Supervisory Board of ERGO Versicherungsgruppe AG.
ERGO records stable result in 2011
Press release 29 March 2012
The ERGO Insurance Group reported its results for the 2011 financial year at today’s balance-sheet press conference. In spite of turbulence experienced on the capital markets, ERGO achieved a stable consolidated result of 349 (355) million euros. Total premium income increased slightly by 0.7 percent to 20.3 (20.1) billion euros.
ERGO launches start-up of life insurance company in China
Press release 13 April 2012
The ERGO Insurance Group is entering the Chinese insurance market and is launching the start-up of a joint venture with a local partner. The joint venture will primarily offer life insurance to private customers in the economically attractive province of Shandong.
ERGO sells South Korean subsidiary
Press release 3 May 2012
The ERGO Insurance Group is selling its South Korean subsidiary ERGO Daum Direct to the AXA Group. Representatives of both companies signed a share purchase and sale agreement today.
ERGO intensifies reporting on corporate responsibility and sustainability
Press release 11 June 2012
Corporate responsibility is an inherent part of ERGO’s guiding principles. Now the Company has significantly increased its reporting about these activities: at www.ergo.com the Group provides a comprehensive overview of the Company’s extensive and wide-reaching commitment to sustainability under the heading “Responsibility”.
ERGO study shows consumers frequently baffled by information
Press release 20 June 2012
One in every three people frequently or very frequently encounters information they find difficult to understand – this is the conclusion reached by the ERGO Study on Comprehensibility, entitled “What do we still understand?” For the purpose of this representative study, the opinion research institute forsa carried out a Germany-wide survey of 2,600 individuals aged eighteen or above. The results are being presented by the ERGO Insurance Group today.
ERGO launches quality and efficiency programme and intends to streamline sales
Press release 27 July 2012
The Board of Management of ERGO Versicherungsgruppe AG has detailed its plans concerning the initiatives launched in March 2012 aimed at increasing quality and efficiency. Sales organisations are likely to be merged and managed under the umbrella of an ERGO sales company.
Property-casualty insurer ERGO Versicherung AG opens branch office in Austria
Short news 6 August 2012
ERGO Versicherung AG is very well positioned within German industrial insurance. In order to further expand its market share, the ERGO company has put the focus on industrial markets elsewhere in Europe, with a new branch office now open in Vienna.
Transparency on incentive trips and incentive events
Short news 29 September 2012
In order to become more transparent and win back trust, ERGO has decided to disclose all incidents of misconduct in connection with incentive trips and incentive events. This information will now be available under the heading “Corporate Governance” on the website of the ERGO Insurance Group.
ERGO comments on reports of further staff cuts in Germany
Short news 18 October 2012
As part of a regular check on the number of positions in all departments, the staffing plan for the following year is compiled annually.
ERGO publishes first Sustainability Report
Short news 31. October 2012
The ERGO Insurance Group has submitted its first Sustainability Report.
ERGO and Avantha will launch life insurance company in India
Press release 1. November 2012
The ERGO Insurance Group is strengthening its presence in the emerging Asian markets by signing a joint venture with the Avantha Group in India.
ERGO expands bancassurance business in the Baltic states
Press release 13. December 2012
The ERGO Insurance Group is expanding its international bancassurance business.
“Clear Language Initiative” put to test: ERGO awarded TÜV seal
Press release 6 March 2013
ERGO Insurance Group has achieved an important milestone on its path to increased comprehensibility: The German regional inspection agency TÜV Saarland has certified the Company with its seal exceptionally clear communication with customers. ERGO is the first insurer in Germany to be certified as an entire company in terms of clarity and comprehensibility by TÜV Saarland.
ERGO Supervisory Board extends contract of Management Board Chairman Oletzky
Press release 20 March 2013
The Supervisory Board of ERGO Insurance Group has yesterday extended the appointment of Torsten Oletzky for five years.
ERGO updates transparency website
Short news 21 March 2013
The ERGO Insurance Group has updated the chapter "transparency" on its website. In this chapter, the company publishes information on misconduct on incentive trips and events as well as on allegations concerning the insurance business which had been discussed in the prublic in 2011 mainly.
ERGO: Major topics addressed in 2012
Press release 27 March 2013
ERGO Insurance Group will be presenting its results for the 2012 financial year at today’s balance sheet press conference. The Group result stood at 289 (349) million euros after taking into account provisions put aside for restructuring the German sales organisations. At 18.6 (20.3) billion euros, total premium income was down by 8.4 per cent on last year. This was mainly due to disposals and fewer single-premium life insurance policies.
ERGO launches competition for a new lead creative agency
Short news 8 July 2013
ERGO Insurance Group is on the search for a new lead creative agency, starting with a pitching competition. The focus is on developing a new, high-visibility advertising campaign for ERGO and ERGO Direkt in Germany from 2014.
ERGO increases stake in Global Insurance Company in Vietnam
Short news 2 August 2013
The ERGO Insurance Group strengthens its engagement in Vietnam by purchasing a further ten percent of shares in Global Insurance Company (GIC). ERGO now holds a 35 percent share in the property-casualty insurer, which has enjoyed extremely positive growth in recent years. As soon as regulating bodies allow it, ERGO intends to further increase its involvement in GIC.
ERGO strives for consistent customer-orientated management
Press release 12 August 2013
ERGO Insurance Group is to gear their management more closely towards customers in order to further implement its claim “To insure is to understand”. Important new modules include the introduction of a customer satisfaction index and a planned COO division for all the Company’s customer-related services and processes.
ERGO employees donate 4,000 euros to children’s hospice
Short news 13 August 2013
ERGO Insurance Group employees donated nearly 3,200 euros to the children’s hospice ‘Regenbogenland’ (Rainbowland) in Düsseldorf at this year’s summer fête on 12 July. The Company then rounded the sum up to 4,000 euros.
Joint venture goes into business: ERGO sells first life insurance policies in China
Press release 5 September 2013
The ERGO Insurance Group now also offers life insurance on the Chinese market. The joint venture, ERGO China Life, will start business operations next week by selling its first policies. ERGO China Life is focussed on the economically attractive province of Shandong and its approximately 97 million inhabitants, which make it the third largest domestic insurance market.
ERGO chooses RAPP as its new lead agency in Germany
Press release 9 October 2013
In a multi-phase selection process by ERGO Insurance Group, RAPP Germany was the agency that came out on top. In the future, RAPP Germany will be the lead agency to develop and implement advertising campaigns for the ERGO and ERGO Direkt brands in Germany.
ERGO Customer Advisory Board ends first term
Press release 22 October 2013
The ERGO Customer Advisory Board has now finished its first term. The 25 members have met five times since 2011, giving ERGO valuable impetus from the customers’ point of view. The second term will start in spring 2014 with new members. Applications can be submitted now.
Silke Lautenschläger appointed to ERGO Board of Management
Press release 4 December 2013
ERGO Insurance Group’s Supervisory Board appointed Silke Lautenschläger to the ERGO Board of Management as of 1 January 2014. She will assume responsibility for the new COO department.
ERGO Advice and Sales Company ready to start
Press release 19 February 2014
On 1 April 2014, the ERGO Insurance Group will complete the restructuring of its sales organisations in Germany. More than 10,000 full-time sales agents will then transfer from ERGO’s operative insurance companies to the new Advice and Sales Company, ERGO Beratung und Vertrieb AG.
Changes to the Boards of Management within ERGO Insurance Group
Press release 1 April 2014
As from 1 April, Management Boards of ERGO Group companies in Germany will see some changes that are mainly related to restructuring within the Group. Among them is the merger of the German Life and Health/Travel Business Divisions in one single division Personal Lines Business.
ERGO Insurance Group increases profit significantly
Press release 2 April 2014
ERGO Insurance Group significantly increased its profit in the financial year 2013. The consolidated result of 436 (290) million euros went up by 50 percent compared to the previous year. With premium income amounting to 18.1 (18.6) billion euros, turnover declined by -2.3 percent.
New ERGO campaign: the confidence to achieve your aims in life
Press release 15 May 2014
ERGO Insurance Group has launched a new campaign which expands the company’s brand promise “To insure is to understand”. Understanding customers means supporting them in making the most of opportunities and encouraging them to take the next step in life with confidence.
Questions and answers: the third ERGO Customer Report has been published
Short news 19 May 2014
In the recently published third edition of the ERGO Customer Report, members of the Board of Management and experts answer the latest questions from ERGO customers. Policyholders are at the heart of the Customer Report, asking questions and providing inspiration.
ERGO Customer Advisory Board reconvenes with new members
Short news 27 May 2014
The ERGO Customer Advisory Board has now entered its second term with new members on board. The 25 members will meet twice a year over the next three years, and will support ERGO as the voice of the customer. Topics for the advisory board will include clear and easy-to-understand communication, customer advice and digital media, as well as products and customer service.
ERGO acquires property-casualty insurer in Singapore
Press release 20 June 2014
The ERGO Insurance Group is entering the Singapore insurance market by acquiring 100 percent of the property-casualty insurance company SHC Insurance Pte. Ltd. This acquisition will be another important milestone for the strategy of ERGO to expand its presence in South East Asia.
Management Board changes at ERGO Advice and Sales Company
Press release 8 August 2014
Thomas Bischof, Board member at ERGO Beratung und Vertrieb AG, responsible for Bank and Cooperation Sales, is transferring to Munich Re, where he will be in charge of Group Development as from 1 October 2014. He will be replaced by Stephan Schinnenburg, who will be taking on this area of responsibilities in addition to his current activities as Board member in charge of Broker Sales.
ERGO to become largest property-casualty insurer in Greece by acquiring ATE Insurance
Press release 14 August 2014
The ERGO Insurance Group is expanding its presence in Greece significantly by acquiring 100 percent of the Greek company ATE Insurance. This transaction will make ERGO the largest property-casualty insurer in the market.
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ERGO awarded “Superbrand” status
Short news 7. October 2014
This year, the jury of Superbrands International honoured ERGO for outstanding brand management for the first time and awarded the “Superbrands Germany” seal to the Company.
ERGO offers award to honour courageous people
Press release 15 October 2014
ERGO Insurance Group has launched an award: “Your own path” [Dein Weg] is aimed at people who have the confidence to make their dreams come true. The competition is part of the Company’s current advertising campaign in Germany, which puts courage centre stage. Total prize money stands at 11,500 euros and the deadline for entries is 24 October 2014.
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ERGO enjoys excellent customer confidence
Short news 14 January 2015
The German weekly business magazine “WirtschaftsWoche” awarded ERGO with seal of quality for excellent customer confidence in the Insurer - Multi-Channel Sales category.
TÜV certification: communication at ERGO is clear and understandable
Press release 9 April 2015
ERGO Insurance Group has the customer requirement for improved readability on its agenda. The company has once again come a step closer to the goal of clear communication. TÜV Saarland, an independent inspection organisation, evaluated ERGO’s clear-language initiative for the second time and awarded it the grade “good” (1.90). ERGO achieved a score of 2.07 in 2013.
Renewed rise in profits for ERGO Insurance Group in 2014
Press release 9 April 2015
ERGO Insurance Group attained a profit of 620 million euros in the 2014 financial year, up by 184 million euros on the previous year. Special effects resulting from tax reimbursements and interest rate hedging measures have had a positive impact on the result.
ERGO publishes fourth Customer Report
Press release 20 April 2015
What insurance cover does a young family require? Which kinds of insurance can they probably do without? These and other questions are answered by experts in the fourth issue of the ERGO Customer Report.
Planned changes at the helm of ERGO's Board of Management and on Munich Re's Board of Management
Press release 24 April 2015
The Chairman of ERGO's Board of Management, Torsten Oletzky, will leave ERGO at the end of the year. His intended successor is Markus Rieß, CEO of Allianz Deutschland, who is also to be appointed to Munich Re's Board of Management.
Lars von Lackum appointed to Board of ERGO International AG
Press release 30 April 2015
Lars von Lackum has been appointed to the Board of Management of ERGO International AG with effect from 1 May 2015. He will be responsible for the international legal protection business of the D.A.S brand.
Change on the Board of Management of the ERGO Insurance Group
Press release 8 May 2015
Bettina Anders, Member of the Board of Management of ERGO Versicherungsgruppe AG and Chief Information Officer, will leave the Company at her own request and by amicable agreement at the end of 31 December 2015. For personal reasons, Ms Anders does not seek to extend her contract which expires at the end of the year. Her succession will be settled at a later date.
Markus Rieß confirmed to become CEO of ERGO and member of the Munich Re Board of Management
Press release 9 June 2015
The Supervisory Board of ERGO Versicherungsgruppe AG has today appointed Markus Rieß to the ERGO Board of Management and also as its Chairman. Moreover, the Supervisory Board of Munich Re has appointed Rieß as a member of the Munich Re Board of Management. Both appointments will take effect on 16 September 2015.
Changes to ERGO Insurance Group Board of Management
Press release 4 August 2015
Rolf Wiswesser, member of the Board of Management in charge of sales, will be leaving ERGO Insurance Group by mutual agreement at the end of this year. His board appointment at ERGO Versicherungsgruppe AG will expire on 30 September. In order to ensure a smooth transition, Wiswesser will act in an advisory capacity until the end of the year. This decision was taken by the ERGO Supervisory Board today afternoon. The designated Chairman of the Board of Management at ERGO, Markus Rieß, will initially take over the sales division.
“Dein Weg” – ERGO once again honours people who show great courage
Press release 27 August 2015
ERGO Versicherungsgruppe AG is presenting the “De-in Weg” [Your Journey] award for the second consecu-tive year. This online competition is aimed at people who have the confidence to make their dreams come true. Total prize money stands at 11,500 euros and the deadline for en-tries is 11 October 2015.
Markus Rieß takes over helm at ERGO
Short News 16 September 2015
Markus Rieß today took over the helm as new Chairman of the Board at ERGO Versicherungsgruppe AG and as Board member at Munich Re.
ERGO employees in Germany donate 11,000 euros to the STAY! refugee initiative
Press release 24 September 2015
Staff at ERGO Insurance Group in Düsseldorf have donated to a refugee project at this year’s company party. The donation of 11,000 euros will go to STAY! Düsseldorfer Flüchtlingsinitiative e.V. on 25 September.
TÜV seal of approval for ERGO’s quality of advice
Press release 20 Oktober 2015
ERGO provides sound and comprehensive advice on insurance coverage and provision. German inspection agency TÜV Rheinland has awarded ERGO Insurance Group the “Quality of advice in finance” certificate for its advisory approach. The “ERGO Kompass” (ERGO Compass) is a vital component of the consulting process.
Harald Christ appointed Chairman of the Board of Management of ERGO’s German sales company
Short News 14 December 2015
Harald Christ will take over as new Chairman of the Board of ERGO Beratung und Vertrieb AG from 1 July 2016. This has been decided by the Supervisory Board of the German sales company of ERGO Versicherungsgruppe AG.
Frank Neuroth to leave ERGO Insurance Group
Short News 16 December 2015
Frank Neuroth is going to leave ERGO Insurance Group at year-end 2015 in mutual agreement. By then, he will resign from his positions in Group company Management Boards.
ERGO acquires additional shares of HDFC ERGO
Press release 17 December 2015
The ERGO Insurance Group, Düsseldorf, will acquire additional 22.9 percent of shares of HDFC ERGO General Insurance Company (HDFC ERGO) from its joint venture partner, the Housing Development Finance Corporation (HDFC), Mumbai, India and increase its shareholdings to 48.7 percent. Representatives of both companies signed a share purchase agreement today.
Tomasz Smaczny appointed Chief Information Officer of ERGO Insurance Group
Short News 17 December 2015
Tomasz Smaczny will take over as Chairman of the Executive Management of IT service provider ITERGO Informationstechnologie GmbH and as Chief Information Officer of ERGO Insurance Group from 1 January 2016. He succeeds Bettina Anders who in May 2015 announced her intention to resign at year-end.
ERGO reports on activities for sustainability in 2014
Short news 22 December 2015
The ERGO Insurance Group again presents a detailed sustainability reporting in accordance with Global Reporting Initiative (GRI) guidelines.
Changes to the Board of Management of German life insurer
Press release 11.1.2016
Dr. Dr. Michael Fauser and Dr. Max Happacher were appointed to the Board of ERGO Lebensversicherung with effect from 1 May 2016. Dr. Johannes Lörper has announced his retirement at the end of 2016.
Peter Stockhorst to become Board Chairman at German direct insurer
Press release 12.1.2016
Peter Stockhorst will take over as Chairman of the Board of Management of ERGO Direkt Versicherungen on 15 January 2016. Daniel von Borries will step down as Chairman and focus on his responsibility for Investments at the ERGO Insurance Group.
ERGO revises Group structure – Supervisory Board appoints Andree Moschner to Management Board
Press release 12.2.2016
ERGO Insurance Group will reorganise its structure. Under the roof of the renamed ERGO Group AG, the German, International and Direct & Digital businesses will be steered in three separate units in the future. CEO Dr. Markus Rieß: “We modernise our structure and thus create the basis for innovation as well as for strong strategic and operative management.” The Supervisory Board also appointed Andree Moschner to the Board of Management. Dr. Daniel von Borries will leave the Company.
ERGO is new “Official Partner of the DFB Cup” of the German Football Association
Press release 14.3.2016
ERGO Versicherungsgruppe AG has signed a three-year contract with DFB, the German Football Association, for an extensive sponsorship of the German DFB Cup competition. The insurance group will be one of the six “Official Partners” for this trophy from the start of the 2016/2017 season and will receive an attractive rights package for all 63 games in the competition.
ERGO Board member Christian Diedrich to retire at end of year
Press release 5.4.2016
Christian Diedrich, member of the Board of Management of ERGO Versicherungsgruppe AG and Chairman of the Board of Management of German property-casualty insurer ERGO Versicherung AG, will resign from both Boards after attaining the age of 60. He has decided to retire when his term of office expires at the end of 2016 due to personal reasons.
Management Board changes at German sales company
Press release 20.4.2016
On the Board of Management of German sales company ERGO Beratung und Vertrieb AG (EBV), Hanno Schädel will be taking responsibility for Central Divisions Sales as of 1 July 2016. He will be replacing Thomas Bilitewski who is leaving the company by mutual agreement following a transition phase. Schädel will report to Harald Christ who, as announced on 14 December 2015, will take over as Chairman of the Board of Management of ERGO Beratung und Vertrieb AG as of 1 July 2016.
Karsten Crede to take responsibility for new Board Division ERGO Mobility Solutions
Press release 22.4.2016
ERGO Digital Ventures AG will set up ERGO Mobility Solutions as new business division. It will be managed by Karsten Crede as member of the Management Board of the digital business pillar of ERGO Group AG, Düsseldorf. Subject to approval of the relevant bodies, the 47-year-old will take over the newly established Board Division on 1 January 2017.
The new VORSORGE Care Pension plus offers both a guaranteed provision as well as earnings perspective
Press release 28.4.2016
VORSORGE Luxemburg Lebensversicherung – a subsidiary of ERGO Group – adds to its portfolio a long-term care insurance pension against single premium for customers in Germany. The customer individually and flexibly determines the amount and scope of support in case of need for care. The insurance is based on a capital market investment concept, thus offering a possible additional increase of the guaranteed Pension.
ERGO acquires shares of Thaisri Insurance
Press release 26.5.2016
The ERGO Group, Düsseldorf, is entering the insurance market in Thailand by acquiring a minority share of 40.26 percent of Thaisri Insurance from Pailuck Company Ltd., Bangkok. Representatives of both companies signed a share purchase agreement today. The parties agreed not to disclose the purchase price. With the acquisition, ERGO strengthens its presence in Asia as one of its key markets and continues to pursue its international growth strategy.
ERGO is investing €1 billion and making itself fit for the digital transformation
Press release 1.6.2016
ERGO Group AG is strengthening its role as a leading international primary insurer and moving forward with the digital transformation of its business model with its new strategy. ERGO is investing approx. one billion euros and targeting cost savings of approx. €540 million gross. ERGO will be making a comprehensive cross-channel offering available to customers and sales partners. By 2021 at the latest, ERGO expects annual net profits of over €500 million, thus making a sustainable contribution to the result of its owner Munich Re. ERGO plans to grow faster than the market from 2019. The Company’s Supervisory Board approved the strategy programme at a meeting on 31 May 2016. Subject to agreement with the co-determination bodies, all measures are to be concluded no later than 2020.
HDFC ERGO acquires Indian non-life insurer L&T General Insurance
Press release 3.6.2016
HDFC ERGO General Insurance Company (HDFC ERGO), Mumbai, India, purchases 100 percent of L&T General Insurance Company Ltd. (LTGI) from Larsen & Toubro Ltd. Representatives of both companies signed a share purchase agreement today. The parties agreed on a purchase price of INR 551 cr (74 million euros). Hereby ERGO further strengthens its engagement in India as a focus market, after recently increasing its shareholding in HDFC ERGO to 49 percent.
ERGO appoints Telekom manager Mark Klein as Chief Digital Officer
Press release 15.6.2016
Mark Klein is to become Chief Digital Officer of ERGO Digital Ventures AG, the new digital division of ERGO Group AG, Düsseldorf, as from 1 September 2016. The 44-year-old was previously Board Chairman of T-Mobile Netherlands B.V.
ERGO Board member Dr. Jochen Messemer to leave at end of year
Press release 23.6.2016
Dr. Jochen Messemer, responsible for International Business on the Management Board of the ERGO Group, will leave the Company at the end of 2016 in best mutual agreement. His successor has not yet been appointed.
Completed acquisition of ATE: ERGO becomes largest property-casualty insurer in Greece
Press release 1.8.2016
The ERGO Group, Düsseldorf, successfully completed the acquisition of the Greek company ATE Insurance, Athens. The transaction makes ERGO the largest property-casualty insurer in the market. The purchase price is 90.1 million euros, subject to net asset value adjustments. With the acquisition, ERGO continues to pursue its international growth strategy.
ERGO will establish new sales structure from 1 January 2017
Press release 12.8.2016
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.
Achim Kassow and Markus Hofmann appointed to the Board of Management of ERGO Deutschland AG
Press release 30.8.2016
The Supervisory Board of ERGO Deutschland AG has appointed Achim Kassow and Markus Hofmann to the company’s Board of Management as from 1 November 2016. In addition, Achim Kassow was appointed Chairman of the Board of Management as from 1 January 2017.
The Supervisory Board of ERGO Versicherung AG has appointed Markus Hofmann as from 1 November 2016 as member of the Board of Management of ERGO Versicherung AG. On 1 January 2017, he will take over as Chairman of the company’s Board of Management.