ERGO streamlines the international D.A.S. portfolio

Τετάρτη, 10 Ιανουαρίου 2018 22:36

The premium income of the three ERGO legal insurance subsidiaries totalled €38.3 million in 2016. By far the largest share of the transaction is accounted for by the Swiss D.A.S. subsidiary, which in 2016 reported premium income of around €30 million and ranked seventh on the Swiss market with a market share of 6.2 percentage points. In 2016, D.A.S. Slovakia, which is the leading provider of legal insurance, had a market share of 85.1 percent. D.A.S. Luxembourg holds a market share of 18.2 percent and ranks in second place (2016).

The sale sees ERGO International pursuing its three-pillar strategy, which defines clear cornerstones for the insurance group’s international business. The programme aims to expand ERGO’s strong position in developed European markets such as Poland and Greece, to efficiently manage the Group’s global specialty insurance business, and to sustainably build and expand business activities in growth markets such as China and India.

“As part of our internationalisation strategy, we are constantly reviewing and analysing our business operations. We see ourselves as pacemakers, not as followers”, says Alexander Ankel, Chief Operating Officer of ERGO International AG. “We are never satisfied with simply being present: our vision is to be an innovation driver in our industry – in every market and region we operate in.”

ERGO is continuously reassessing its international business activities in terms of their strategic relevance, position and market appeal. ERGO International may consider selling companies that fail to meet the minimum requirements now or in the foreseeable future.