The Supervisory Board of ERGO Group AG voted to reduce the size of the Board of Management of ERGO Group AG with effect from January 1, 2019. Thus, in the future, the Board of Management will comprise of 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 consensually leaving the Board of Management of ERGO Group AG on December 31, 2018.

Markus RIESS, Chairman of the Board of Management of ERGO Group AG said, "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 strategic plan from a stronger position, the company stated in a press release.