September 25, 2016 8:07 AM ET

Insurance

Company Overview of ERGO Group AG

Company Overview

ERGO Group AG provides insurance products, and pensions and services worldwide. It operates through Life Germany, Health, Property-casualty Germany, Direct insurance, Travel Insurance, and International segments. The company sells its life, and property and casualty insurance products under the ERGO brand name; health insurance under the DKV brand name; legal protection insurance under the D.A.S. brand name; and travel insurance under the ERV brand name, as well as engages in reinsurance business. It serves private customers, as well as small and medium-sized businesses, and industrial clients. The company was founded in 1997 and is based in Dusseldorf, Germany. ERGO Group AG operates as a s...

Victoriaplatz 2

Dusseldorf,  40198

Germany

Founded in 1997

28,019 Employees

Phone:

49 211 477 7100

Fax:

49 211 477 1500

Key Executives for ERGO Group AG

Chairman of Management Board
Age: 50
Chief Financial Officer and Member of Management Board
Age: 42
Head of International Competence Center Bancassurance
Chief Information Officer
Age: 53
Head of Communications & Brand Management
Age: 53
Compensation as of Fiscal Year 2016.

ERGO Group AG Key Developments

ERGO Group AG Introduces VORSORGE Riester Annuity Fonds

ERGO Group AG has introduced the VORSORGE Riester annuity Fonds, which guarantees the preservation of premiums paid and state subsidies received. In addition, its fund investment component provides additional return options to secure old-age provision. The unit-linked annuity insurance of VORSORGE Lebensversicherung AG, an ERGO Group company, offers the advantages of old-age provision products with state Riester subsidies: financial grants and possible tax benefits. VORSORGE invests part of the premiums and financial grants in a classic investment scheme with security assets. Another part of the capital is invested by the company in a guarantee fund. The VORSORGE premium preservation guarantee covers the premiums paid plus state-subsidised financial grants to provide a life-long pension. The fund investment provides customers with the additional chance to profit from capital markets and to receive an annuity beyond the guaranteed amount. Once the premium preservation guarantee is secured, customers may choose freely a fund to invest in and further increase their return options. For its VORSORGE Riester-Rente Fonds, ERGO waives the one-time acquisition costs. With this, the annuity belongs to the best tariffs in the market regarding the price-performance ratio. Beside life-long annuity payments, customers may also choose a different pay-out option. It is possible to opt for a one-off lump-sum of up to 30% of the total amount, available at the time of the beginning of retirement. The VORSORGE Riester annuity Fonds is invested in the fund DWS Funds Global Protect 80, a product of the investment company DWS Funds SICAV.

ERGO Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

ERGO announced earnings results for the second quarter and six months ended June 30, 2016. The operating result for the ERGO field of business increased to €445 million from April to June against €358 million a year ago, but the consolidated loss fell to €34 million against profit of €215 million during the same period a year ago. Total premium income across all lines of business decreased by 2.8% to €4,179 million against €4,297 million in the second quarter 2015. For the period from January to June, the company generated a loss of €59 million against profit of €317 million a year ago.

ERGO Group Board Member Jochen Messemer to Leave at End of Year 2016

Dr. Jochen Messemer, responsible for International Business on the Management Board of the ERGO Group, will leave the company at the end of 2016 in best mutual agreement. His successor has not yet been appointed.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 23, 2015
ERGO Italia S.p.A.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact ERGO Group AG, please visit www.ergo.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.