ERGO transfers management of pension funds in Estonia to Nordea
May 22, 2014
The transaction between ERGO and Nordea is in
accordance with the long-term business plans of both companies. “We have been
successful in the management of pension assets and our clients have reason to
be satisfied with the results of Nordea funds,“ said the CEO of Nordea Pensions
Estonia, Angelika Tagel. “We assure that the interests of all customers are protected throughout the
entire process,“ she added.
“This is a very important strategic development for
Nordea bank. Saving and investment services are of key importance to the bank
and to many of our customers. As the best bank in Estonia, we are confident
that we have a lot to offer in this area,“ added the CEO of Nordea bank in
Estonia, Andreas Laane.
“ERGO pension funds have been successful throughout
the years. As our main business is insurance, we have decided to focus on property
and life insurance services, ,” said Member of the Board of ERGO Funds, Alo Alunurm.
In 2013 Nordea and ERGO started to cooperate in
offering life insurance to Nordea customers in Estonia. ”Therefore, we know
that we are handing the fund management over to a good partner. We are both large international companies, who
value professionalism, customer focused approach and excellent customer services,“
pointed out Alo Alunurm.
The transfer applies only to
ERGO pension funds of the II and III pillars and comes into effect without any
further actions required from customers. ERGO continues offering services of pensions`
disbursement (. pension annuity), pension insurance and other life insurance
All customers to whom the transition applies will
receive detailed information. Additional information is available at ERGO and
Nordea offices, Customer Support telephone numbers and the webpages.
The change of the fund management company will take place on September 1st, 2014. Nordea will merge ERGO funds with Nordea pension funds of a similar strategy on October 1st, 2014.
ERGO is one of the leading insurance groups in the
Baltic States providing all insurance products ranging from life, pension and medical
insurance to non-life insurance. ERGO companies operating in the Baltic states belong
to the international ERGO Group, which is one of the largest insurance
companies in Europe. ERGO is represented in over 30 countries globally,
primarily in Europe and Asia.
The leading global banking and finance magazine, The
Banker, recognised Nordea as the best bank in Estonia in 2013. Nordea bank
belongs to the largest financial group in Nordic countries, Nordea Bank AB
(publ). Nordea Pensions Estonia AS manages pension funds in Estonia since 2008 and
belongs to the leading Nordic life and pension insurance group Nordea Life and
Nordea has shown stabile growth in Estonia and is strengthening the bank`s position as an advising home bank. In the first quarter of 2014, Nordea Estonia increased the number of customers by 8.1% compared to the same period last year and the volume of saving and investment products by 21%.