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.
The Management Board of the ERGO Baltic Insurance Group will continue temporarily with four members. Dr. Kęstutis Bagdonavičius as the chair the Board, Saulius Jokubaitis as Board member for P&C business, Deniss Sazonovs as Board member for Life, Heath, Pension and Investment business and Sergei Vahnitski as the Chief Operating Officer (COO). The tasks of the Chief Sales Officer (CSO) function will be covered by the board member Saulius Jokubaitis until a new CSO will be appointed. The chairman of the board of ERGO Funds was confirmed Alo Alunurm, as board members will continue Ege Metsandi and Aistė Rudzinskyte.

Dr. Bagdonavičius said that current change will not effect the strategic objectives and operational activities of the Group. ERGO companies in the Baltic States continue to move towards greater synergy and efficiency. “We are continuing to integrate the pan-Baltic business steering approach and culture building “one house” using the best practices of a variety of markets”, he explained.

The chair of the Supervisory Board of ERGO Baltic companies Thomas Hans Schrimer and the chair of the Board Dr. Kestutis Bagdonavičius expressed their best regards and appreciation to Marek Začek for his valuable work and commitment for ERGO during the last three years and wished him success in future occupational career.

ERGO in the Baltic States
ERGO is one of the leading insurance groups in the Baltic States operating on the non-life, life and health insurance markets in Estonia, Latvia and Lithuania, on the second pillar pension fund market in Estonia and Lithuania and on the non-life insurance market in Belarus. Almost 400,000 clients in the Baltic States trust the services, expert knowledge and financial stability of ERGO. ERGO’s Baltic companies belong to one of the biggest insurance groups in Europe, the ERGO Insurance Group, which serves 40 million clients in more than 30 European and Asian countries. The owner of the ERGO Insurance Group is one of the world’s largest reinsurance groups Munich Re.