Three companies operate under the name ERGO in Estonia: the non-life insurance company ERGO Kindlustuse AS, the life insurance company ERGO Elukindlustuse AS and the 2nd and the 3rd pillar pension funds manager ERGO Funds AS.
ERGO has in Estonia extensive sales network with 49 branches, and offers the broadest range of life, pension and property insurance. ERGO serves clients 130,000 and manages more than 200,000 contracts in Estonia. ERGO is the second largest company of its kind in non-life insurance in 2009 year with 19.3% market share, and has in life insurance 7% market share and in second pillar pension funds 4% market share.
The amount of the insurance premiums in year 2009 totalled 723 million kroons (EUR 46 mill). The profit earned by ERGO companies exceeded 87 millions kroons (EUR 5,6 mill).
ERGO Kindlustus AS is one of Estonia’s leading insurance companies and and offers the comprehensive selection of property insurance products to both private clients and businesses. Since 2009 ERGO Kindlustus became the official broker of ERGO Elukindlustuse AS life insurance products, of ERGO Funds AS pension funds products and of D.A.S Õigusabikulude Kindlustuse AS legal cost insurance products in Estonia. ERGO Kindlustus has over 110,000 clients and managers more than 180,000 contracts. It has been operating in Estonia since 1990. The proportion of capital and reserves in the assets of ERGO Kindlustus is a total of 876 million kroons. Capital and reserves exceed the company’s obligations by 157 million kroons.
ERGO Elukindlustuse AS offers a complete range of life and pension insurance options and was one of the driving forces behind voluntary pension insurance in Estonia. This insurance, also known as 3rd pillar, makes up the largest part of the organisation's portfolio. The company is also the only insurer in Estonia to offer life-long second pillar pension payments (pension insurance) and voluntary health insurance. ERGO Elukindlustuse AS serves 13,000 clients. It has operated in the country since 1995.
ERGO Funds AS (Until 13.04.2009 ERGO Varahalduse AS ), in association with Trigon Capital, the leading investment bank in the Baltic States, manages ERGO’s 2nd and 3rd pillar pension funds in Estonia and Lithuania. ERGO pension funds combine the financial capacity and long-term insurance experience of the company and the investment advice experience of the fund manager, Trigon Capital. The goal of ERGO’s pension fund investment strategy is to maximise the pension its clients will receive in the future through balanced and long-term growth and without taking any unnecessary risks and having the lowest management fees in the market.
As of 2009 the company manages the assets of 32,273 clients in the amount of EEK 877 mill (EUR 56 mill), including the assets of 23,000 clients in Estonia in the amount of more than EEK 458 mill (EUR 29 mill). It is owned by ERGO International AG (46.08%), UAB ERGO Lietuva Gyvybės Draudimas (24.58%), ERGO Elukindlustuse AS (19.97%) and ERGO Kindlustus AS (9,37%).
ERGO’s companies in Estonia are part of the ERGO Insurance Group, which serves 40 million clients in over 30 European and Asian countries. The profit earned by ERGO Insurance Group was 297 billion kroons (EUR 19 bill). The majority owner of the group is one the world’s largest insurance groups, Munich Re, which was founded in 1880.
ERGO’s companies employs 485 people in Estonia.
ERGO companies operating in Estonia are audited by KPMG Baltics.
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