News
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ERGO in the Baltic States in 2012: more premiums, profit and benefits paid out to the customers
February 14, 2013According to an IFRS-based assessment, ERGO Insurance Group in the Baltic States in 2012 wrote EUR 150.2 million in premiums, which resulted in a growth of 8.6%, and earned EUR 8.8 million profit. Such result shows a double profit growth compared to the previous year. In the 1-4 quarters ERGO customers in the Baltic countries were paid 17% more claims compared to the last year – EUR 96.3 million.
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The second European Company Established by ERGO
January 15, 2013At the beginning of this year ERGO Insurance Group merged its three non-life insurance companies in the Baltic States into a European Company ERGO Insurance SE. This is the second time when ERGO in the Baltic States has established the European company. Starting from 2011 ERGO successfully operates in life insurance business with the legal form of the European Company as well. Thus ERGO in the Baltic States operates today with two European companies – ERGO Insurance SE and ERGO Life Insurance SE.
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Nordea and ERGO starts cooperating in life insurance business in the Baltic States
December 13, 2012 Nordea is improving its life product offering to customers in the Baltic States, by expanding the offering to Estonia and Latvia and increasing the product range in Lithuania. -
Cross-border Merger of ERGO Kindlustuse Aktsiaselts, „ERGO Latvija” Apdrošināšanas akciju sabiedrība and Akcinė draudimo bendrovė “ERGO Lietuva”
November 30, 20121. Permit for the cross-border merger
On 27 November 2012 the Financial Supervision Authority of the Republic of Estonia issued the permit for the cross-border merger of ERGO’s Baltic non-life insurance companies ERGO Kindlustuse Aktsiaselts (ERGO EST; a public limited company that is registered in the register department of the Estonian Harju County court, register code: 10017013, location: A. H. Tammsaare tee 47, 11316 Tallinn, Republic of Estonia), “ERGO Latvija” Apdrošināšanas akciju sabiedrība (ERGO LV; a public limited company that is registered in the Latvian Commercial Register, register code: 40003131253, location: Skanstes iela 50, Riga LV-1013, Republic of Latvia) and Akcinė draudimo bendrovė “ERGO Lietuva” (ERGO LT; a public limited company that is registered in the Lithuanian Republic Register of Legal Persons, register code: 110012799, location: Geležinio Vilko g. 6A, Vilnius, Republic of Lithuania).
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ERGO in the Baltic States: more benefits paid out to the customers, increased premiums and double higher profit
November 13, 2012According to an IFRS-based assessment, in spite of turbulence experienced on the capital markets, ERGO Insurance Group in the Baltic States in 9 months of this year wrote almost EUR 107 million in premiums, which resulted in a growth of nearly 10 %, and earned a double higher profit of EUR 7.9 million in comparison with previous year (EUR 2.9 million in 2011). In the 3 quarters ERGO customers in the Baltic countries were paid 8 % more claims compared with last year (EUR 65.5 million in 2012, EUR 60.6 million in 2011).
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ERGO has been recognized as the most loved insurer in the Baltic States
October 01, 2012This year ERGO Insurance Group brand has been recognized as the most loved insurance brand in the Baltics States. The Baltic TOP of the most loved brands this year was made for the first time, but Latvian TOP of the most loved brands was built up since 2004.
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ERGO in the Baltic States in the Q1-2 2012: more premiums, profit and benefits paid out to the customers
August 13, 2012According to an IFRS-based assessment, in spite of turbulence experienced on the capital markets, ERGO Insurance Group in the Baltic States in the first half of this year wrote over EUR 72.4 million in premiums, which resulted in a growth of 9.7 %, and earned EUR 5.04 million profit. In the 2 quarters ERGO customers in the Baltic countries were paid over 8.3 % more claims compared with last year (EUR 45.8 million in 2012, EUR 42.3 million in 2011).
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ERGO in the Baltic States in the Q1 2012 grew profitable in all insurance segments
May 22, 2012 In spite of turbulence experienced on the capital markets, ERGO Insurance Group in the Baltic States in the first quarter of this year wrote over EUR 37.5 million in premiums, which resulted in a growth of 13.3 %, and earned EUR 165.742 profit, according to an IFRS-based assessment. In the first quarter of this year ERGO customers in the Baltic countries were paid more claims compared with last year (EUR 20.9 million in 2012, EUR 20.6 million in 2011). -
ERGO in the Baltic States: profitable and with higher turnover in 2011
February 20, 2012 According to an IFRS-based assessment, during the 12 months of the last year, ERGO Insurance Group in the Baltic States wrote more premiums in all insurance segments – over EUR 138.2 million – and earned EUR 3.6 million profit. In the 1-4 quarter of the last year, customers in the Baltic countries were paid more than EUR 82.3 million for insurance claims. -
ERGO in the Baltic States: profitable and with more customer claims paid
November 21, 2011 According to an IFRS-based assessment, during the 9 months of this year, ERGO Insurance Group in the Baltic States wrote more premiums in all insurance segments – over EUR 97 million – and earned almost EUR 2,9 million profit. -
In the half-year‘s period ERGO paid out indemnities in the value of more than EUR 42 million to its customers.
August 12, 2011 According to International Financial Reporting Standards (IFRS) and based on a year-on-year comparison, in the first six months of this year ERGO Baltic Insurance Group wrote premiums in the amount of EUR 66 million. In the half-year‘s period ERGO paid out indemnities in the value of more than EUR 42 million to its customers. The half-year‘s profit of ERGO Life Insurance SE, founded this year, rose almost 2.5 times and stood at over EUR 2.48 million. -
Biggest insurance broker IIZI will start to offer insurance products of leading insurer ERGO
June 29, 2011 From 01.07.2011 IIZI kindlustusmaaklerid AS will start offering again Insurance products by one of the world’s leading insurers ERGO. -
Maarika Liivamägi will Join ERGO Baltic Management Board
March 31, 2011 The new Chief Sales Officer (CSO) of the ERGO Baltic Insurance companies is Ms Maarika Liivamägi, she will be responsible for sales and marketing in Estonia, Latvia and Lithuania from the 1st of April 2011. -
ERGO incorporated its life insurance companies in the Baltic States into one company
January 11, 2011 From the beginning of January ERGO’s life insurance companies in the Baltic States are operating as one Societas Europaean company - ERGO Life Insurance. The company is registered in Lithuania (Vilnius) and has branches in Estonia and Latvia. -
How will the introduction of the euro affect ERGO insurance contracts and indemnities?
December 30, 2010 On January 1, 2011 (€ Day) the euro will become the official currency of Estonia. ERGO has joined the fair pricing agreement, thus giving its customers a promise that the transition to the euro will not bring about price increases. -
Private insurance companies to celebrate their 20th business anniversary in Estonia
December 30, 2010 The end of 2010 marked the 20th anniversary of the foundation of the first private insurance companies next to the Soviet state insurance. In late 1990, two private insurance companies, the predecessors of the present-day ERGO Insurance were set up: Leks Kindlustuse AS and Balti Kindlustusselts AS (BICO). In 2011, ERGO is going to celebrate its 20th business anniversary in Estonia. -
Changes in the board of ERGO Baltic Insurance Group
December 06, 2010 The Supervisory Board and the Management Board of the ERGO Baltic insurance companies decided to finish the mandate of the Board member of ERGO Baltic insurance and pension companies Mr Marek Začek from December 01, 2010. -
ERGO in the Baltic States is profitable despite recession
November 11, 2010 The profit earned by ERGO Insurance Group in the first nine months of this year in the Baltic States amounted to more than 4.8 million euros or over 75 million kroons according to the International Financial Reporting Standards (IFRS).