BELARUS: ERGO was advised on the sale of its Belarusian branch by Sorainen

9 June 2020 — Marina MAGNAVAL
Sorainen, a fully integrated regional business law firm with offices throughout the region (in Estonia, Latvia, Lithuania, and Belarus), has advised ERGO Group on the sale of its non-life subsidiary in Belarus to the EUROINS Group, as CEE Legal Matters informed.

Bulgaria-based EUROINS Insurance Group last year agreed to acquire ERGO's subsidiaries in three European countries - Belarus, the Czech Republic and Romania. EUROINS already acquired insurance businesses in Bulgaria, Georgia, Romania, Russia, and Ukraine. ERGO Belarus is the third largest private insurer in the country operating in a sector that is still dominated by state companies. With this acquisition EUROINS continues its expansion in the region.

"The ERGO Group is an insurance group with its home market in Germany and representation in around 30 countries worldwide. The Belarusian operations of ERGO commenced in 2008 when Belarus-based BASO Insurance Company joined the group and implemented the ERGO brand", Sorainen noted.

Sorainen was founded in 1995, and the firm has more than 80,000 cases on its track record, along with over 1000 M&A transactions to date.

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