ERGO Group AG downsizes Board of Management Clemens Muth appointed as new Chief Underwriting Officer


Press Release, 31.10.2018

At its meeting today, the Supervisory Board of ERGO Group AG voted to reduce the size of the Board of Management of ERGO Group AG with effect from 1 January 2019. In future, the Board of Management will comprise only five members. Responsibility for all insurance lines of the ERGO Group will be focused in a single Board of Management department. Clemens Muth, previously responsible for Life & Health, will assume additional responsibility for Property Insurance in his new function as Chief Underwriting Officer.

Monika Sebold-Bender is leaving the Board of Management of ERGO Group AG by mutual agreement on 31 December 2018. The Board of Management and Supervisory Board of the company thank her for her services and dedication, and wish her all the best for the future and much success.

Markus Rieß, Chairman of the Board of Management of ERGO Group AG: “It is with regret that I announce the departure of Monika Sebold-Bender. In the first two years of implementing our strategy programme (ESP), her profound experience in the property insurance business made a very valuable contribution to ERGO’s realignment. On behalf of the entire Board of Management, I would like to thank her for her important and successful work.” By downsizing the Board of Management and merging departments under the leadership of Clemens Muth, ERGO is entering the second half of its strategy programme from a stronger position.

Dr. Monika Sebold-Bender

Dr. Clemens Muth

For further information, please contact:

Jürgen Homeyer

ERGO Group AG
Media Relations

Tel +49 211 477-7810
Fax +49 211 477-1511
juergen.homeyer@ergo.de
media-relations@ergo.de

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.
More at www.ergo.com

Disclaimer

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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