ESTONIA will become the head office of ERGO in Baltic States

12 January 2012 — Vlad BOLDIJAR
ESTONIA will become the head office of ERGO in Baltic States
estonia1Insurance group ERGO will merge its general insurance companies in Latvia, Estonia and Lithuania and set up a head office in Estonia, was informed by the company. It is planned that the merger will be concluded by January 1, 2013. After the merger, the company will be called ERGO Insurance SE. Also, the Latvian and Lithuanian general insurance companies will proceed with their activities as ERGO branches, writes The Baltic Course.

"Our clients will see improvements in servicing, employees - new growth opportunities in a multi-cultural team, experience exchange, opportunities to improve their professional competence and participate in various international projects in the Baltic States. The merger will also allow ERGO to manage its business activities much more efficiently, optimize the company's distribution of finances and human resources, increase competitiveness and contribute to its sustainable development", explained the ERGO Board Chairman, Kestutis BAGDONAVICIUS, quoted by The Baltic Course.

During the 9 months of 2011, ERGO Insurance Group wrote in the Baltic States over EUR 97 million in premiums and earned almost EUR 2,9 million profit. In the 1-3 quarter of 2011, customers in the Baltic countries were paid almost EUR 48 million for insurance claims.

At the same time, from the beginning of January, 2011, ERGO's life insurance companies in the Baltic States are operating as one Societas Europaea company - ERGO Life Insurance. The company is registered in Lithuania (Vilnius) and has branches in Estonia and Latvia.

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