ERGO decided not to sell its traditional life insurance portfolios in Germany

ERGO announced it ends the discussions concerning the sale of its German life insurance companies with traditional life insurance portfolios.

The decision was taekn by the end of November by the Board of Management following an in-depth assessment of non-binding offers submitted by potential buyers and a discussion of all the available options.

"In ERGO's view, the current value of the portfolios and its potential appreciation is not adequately reflected in the offers submitted. We will therefore continue to manage our traditional life insurance portfolios ourselves," said Markus RIESS, Chairman of the Board of Management of ERGO Group AG.

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