ERGO and BMW Bank conclude strategic cooperation

Partnership addresses future development of digital insurance and mobility solutions

Media Information, 28.07.2020

ERGO Group and BMW Bank agree on strategic cooperation in the German car dealership sector. Within this framework, both companies aim to develop digital insurance and mobility services in the future.

From July 2020, ERGO Group, with its automotive and mobility subsidiary ERGO Mobility Solutions, will become the strategic partner of BMW Bank, via the risk carrier ERGO Direkt Versicherung AG. The cooperation applies to per-unit premium business in connection with leasing and financing contracts.

"The cooperation with BMW Bank is another milestone for ERGO in meeting our innovation, quality and growth aspirations. With the combination of insurance and sales expertise, as well as a strong technology and data focus, with BMW Bank we are on our way to developing innovative, digital insurance solutions for BMW Bank customers", says Karsten Crede, Chairman of the Board of Management of ERGO Direkt Versicherung AG and responsible for ERGO Mobility Solutions.

"We would like to establish forward-looking, long-term cooperation with ERGO, as that will enable us to further develop our digital customer experience for insurance together. Thus, we are addressing the increasing customer requirements for individual product solutions. The partnership offers an ideal basis for this", explains Hans-Peter Mathe, Chief Sales and Marketing Officer at BMW Bank.

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Media Relations

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About the ERGO Group AG

ERGO is one of the major insurance groups in Germany and Europe. Worldwide, the Group is represented in around 30 countries and concentrates on Europe and Asia. Four separate units operate under the umbrella of the Group: ERGO Deutschland AG, ERGO International AG, ERGO Digital Ventures AG and ERGO Technology & Services Management AG. German, international, direct and digital business as well as the global management of IT and technology services are combined there.
About 38,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2019, ERGO recorded a total premium income of 19 billion euros and rendered benefits to customers (gross) of 17 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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