ERGO Group AG further expands in the Nordics to unlock significant growth potential

Following the merger of Europæiske Rejseforsikring A/S and ERGO Forsikring AS, ERGO is combining its travel and health insurance activities within one company. Through the launch of ERGO Forsikring A/S, ERGO will leverage the respective businesses’ strengths across Denmark, Norway and Sweden.

ERGO Group AG (“ERGO”) today announced the successful completion of the merger of its Danish travel insurance company Europæiske Rejseforsikring A/S and its Norwegian health insurance business ERGO Forsikring AS, formerly known as Storebrand Helseforsikring AS. Consequently, both entities have been combined in a single company under the name ERGO Forsikring A/S as of today.

With this strategic move, ERGO creates a dedicated growth platform in the Nordic region, further expanding its local market presence and laying the foundation for accelerated, profitable growth across Denmark, Norway and Sweden.

Building on the former companies’ complementary strengths in terms of product offerings and market positioning, ERGO Forsikring A/S will focus on providing comprehensive healthcare and travel insurance solutions to both corporate and retail customers. Through the combination of both entities, the merged company will benefit from joint distribution networks and existing business relationships, facilitating market access and leveraging cross-selling opportunities in all three countries. Furthermore, ERGO Forsikring A/S will be able to realize important efficiency gains driven by advanced digitalization and synergies throughout its joint operations.

“Today’s announcement marks an important milestone in the delivery of our international business strategy as we aim to establish ourselves among the top five insurance companies wherever we operate. With the launch of ERGO Forsikring A/S, we will blend local market know-how and insurance expertise with our technical excellence and innovative strengths at Group-level, unlocking considerable growth opportunities and synergy potential across the Nordic region,” said Theo Kokkalas, Chair of the Board of Management of ERGO International AG and Chief Operating Officer of ERGO International, managing ERGO Group AG’s international business portfolio.

“With ERGO Forsikring A/S as a genuine pan-Nordic insurance player, we will strengthen our position in every local market, providing innovative, simple and tailored solutions to meet the evolving needs of our customers. As we bring together our respective expertise in the health and travel segments, underpinned by consequent digitalization, we will act as a one-stop shop for holistic insurance coverage. With this new setup, we will enhance our service offerings and deliver significant added value for our customers and partners,” added Ronald Kraule, Chief Executive Officer of ERGO Forsikring A/S.

Headquartered in Copenhagen, Denmark, the merged company ERGO Forsikring A/S embodies over 100 years of Nordic insurance expertise and currently counts 176 employees across Denmark, Norway and Sweden. In the 2024 financial year, its predecessor companies, ERGO Forsikring AS and Europæiske Rejseforsikring A/S, generated around EUR 118 million* and approximately EUR 44 million* of Gross Written Premiums (GWP), respectively. On that basis, ERGO Forsikring A/S has defined an ambitious growth plan for the years ahead, harnessing both organic and external growth potential. In parallel, ERGO Forsikring A/S envisages substantial strategic investments over the next years, focusing on accelerated digitalization and innovation initiatives.

_{*Figures are based on annual average foreign exchange rates and are therefore only estimates.}