ERGO, FY2019: group's consolidated result increased 22.6

2 March 2020 — press.release
For year 2019, ERGO Group generated a consolidated profit amounting EUR 440 million, 22.6% more year-on-year, exceeding its profit guidance of EUR 400 million and staying well on track to meet the objectives of the ERGO Strategy Programme, as the group mentioned.

ERGO Group FY2019 figures, y-o-y changes

  • Gross written premiums: EUR 17,650 million (-0.7%), of which:
    • Germany Life & Health: EUR 9,238 million (-1.1%)
    • Germany Property & Casualty: EUR 3,500 million (+3.6%)
    • International: EUR 4,912 million (-2.9%)
  • Technical result: EUR 745 million (-21.2%)
  • Investment result: EUR 4,504 million (+59.0%)
  • Operating result: EUR 1,391 million (+10.4%)
  • Combined ratio Germany: 92.3% (-3.7 pp.)
  • Combined ratio International: 94.3% (-0.3 pp.)
  • Consolidated result: EUR 440 million (+22.6%)

The ERGO Property-casualty Germany segment reported a profit of EUR 148 million (+228.9%), boosted by a much improved technical result. The ERGO International segment again reported a high result of EUR 105 million (+1.9%). A very good operating result in particular had a positive effect, which offset the negative impact from the sale of non-German subsidiaries.

ERGO Life and Health Germany reported a result of EUR 187 million (-291.7%). In the previous year, the segment result had benefited significantly from one-off effects. ERGO's operating result amounted to EUR 1,391 million (+10.3%).

Total premium income across all segments remained stable overall in 2019 at EUR 18,880 million (+1.0%), despite international portfolio optimization. Gross premiums written amounted to EUR 17,650 million (-0.7%); of this amount 52.3% was brought by German Life and Health branch, 19.8% by German Property and Casualty segment and the rest of 27.8% from the International business.

The combined ratios are at a very pleasing level. The Property-casualty Germany segment improved significantly to 92.3% (-3.7 pp.) due to operative improvements. The ratio in the International segment improved slightly to 94.3% (-0.3 pp.).

More financial information about ERGO Group can be found at

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