News
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For ERGO in the Baltic States 2015 was a year of profitable
March 01, 2016
ERGO in the Baltic States during the 1-4Q of 2015 has shown excellent results in both – GWP and profit – as well as outperforming the market in all lines of the business. Written premiums in the amount of 186 million euros achieved the growth of almost 14% in comparison to the last year. Positive bottom line result amounted to 4,33 million euros profit. During the 1-4Q of 2015 ERGO in the Baltic States has outperformed market in all business segments: P&C, Life and Health and increased its market share from 12,6% to 13,5% on regional level. While Baltic insurance market grew by 6,8%, ERGO grew by 13,9%. In 2015 ERGO customers in the Baltic countries were paid 98 million euros in claims, this amount is by ca. 19,5% higher than during last year.
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Mobile application for health claims registration as an innovation in the Lithuanian insurance market
December 14, 2015
ERGO Life Insurance, a European company, introduced health insurance application for smart mobile devices in Lithuania. The novelty in the market will allow everyone to immediately submit a request for claims along with all required documents, and to receive the claims paid faster. The occurrence of this innovation has been caused by two main factors, namely, the growing health insurance market, and the improving computer literacy of the clients. Presently, 9 out of 10 persons having health insurance coverage apply for the compensation of damages electronically.
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ERGO in the Baltic States: sustainable and market outperformed development
November 19, 2015
ERGO in the Baltic States during the 1-3Q of 2015 has shown excellent results in both – GWP and profit – as well as outperforming the market in all lines of business. During this period written premiums in the amount of 134 million euros achieved the growth of almost 14% in comparison to the same period last year. Positive bottom line result amounted to 5,13 million euros profit which is 42% bigger than the same period last year. During the 1-3Q of 2015 ERGO in the Baltic States has outperformed market in all business segments: P&C, Life and Health and increased its market share from 12,5% to 13,4% on regional level. While Baltic insurance market grew by 6,6%, ERGO grew by 13,8%. During nine months of 2015 ERGO customers in the Baltic countries were paid 65 million euros in claims, this amount is by ca. 13,3% higher than during the same period last year.
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ERGO in the Baltic States: sustainable and market outperformed development with doubled profit
August 25, 2015
ERGO in the Baltic States during the 1st half year of 2015 has shown excellent results in both – GWP and profit – as well as outperforming the market in all lines of business. During this period ERGO in the Baltic States written premiums in the amount of 89,3 million euros and in comparison to the same period last year, achieved growth of 15%. Positive bottom line result amounted to 5,22 million euros profit which is more than double than same period last year. During the 1st HY 2015 ERGO in the Baltic States has outperformed market in all business segments: P&C, Life and Health and increased its market share to 13,2% on regional level. While Baltic insurance market grew by 6,2%, ERGO grew by 15%. During half year of 2015 ERGO customers in the Baltic countries were paid almost 44 million euros in claims, this amount is by ca. 17% higher than during the same period last year.
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TTÜ Innovation and business centre Mektory and ERGO Insurance SE starting cooperation in insurance field
June 16, 2015
On 16th of June, Tallinn Technology University (TTÜ) and one of the leading insurance groups in the Baltic States ERGO Insurance SE signed a Strategic Cooperation Memorandum to mark the start of their cooperation to develop innovative solutions and options in insurance field.
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ERGO Security Index in the Baltic States shows: the greatest concerns relate to health care and national security
June 11, 2015
Among residents of the Baltic States, the ERGO Security Index has shown a slight improvement in the mood of people in Latvia and Lithuania in comparison to last year, while it has declined by two points in Estonia. The overall index in Latvia in 2015 is -12 (-13 last year), in Lithuania it is -4 (-5), while in Estonia it has dropped from +8 in 2014 to +6 this year. Although Estonians are most convinced about their everyday lives and Latvians feel most insecure, there are a few areas in which the mood of Latvians has improved. Examples include employment and belief in one’s material and financial situation.
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ERGO in the Baltic States grew significantly
May 25, 2015
ERGO in the Baltic States during the 1st Q of 2015 has shown excellent results in both – GWP and profit – as well as outperforming the market in all lines of business. During this period ERGO Baltic has written premiums in the amount of 44,9 million euros and in comparison to the same period last year, achieved growth of 14,5%. Positive bottom line result amounted to 2,29 million euros profit which is 15,3% more than the same period last year. During the 1st Q 2015 ERGO in the Baltic States has outperformed market in all business segments: P&C, Life and Health and increased its market share from 12,4% to 13,4% on regional level. While Baltic insurance market grew by 5,9%, ERGO grew by 14,5%. In the 1st Q of 2015 ERGO customers in the Baltic countries were paid 22,3 million euros in claims, this amount is by 17% higher than during the same period last year. ERGO strategic focuses remain strong customer focus and sustainable profitable growth within UW discipline.
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Linas Agro Group participates in ERGO pension accumulation program
May 04, 2015
The European company ERGO Life Insurance in Lithuania and AB Linas Agro, the subsidiary of the international agribusiness company AB Linas Agro Group, concluded the contract regarding the pension accumulation for employees of AB Linas Agro until the retirement age, 65 years.
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Rise in profit, GWP and market share for ERGO in the Baltic States in 2014
May 04, 2015
ERGO insurance companies in the Baltic States attained a profit of 5,15 million euros (IFRS) in the 2014 financial year (0,01 million euros in 2013). During the 2014, ERGO Baltic signed premiums in the amount of 163 million euros (155 million euros in 2013). During 2014 ERGO in the Baltic States has outperformed market in all business segments: P&C, Life and Health and increased its market share from 12.3% to 12.6% on regional level. While Baltic insurance market grew by 7.9%, ERGO grew by 10.3%.
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ERGO cooperate with Nextury Ventures in the creation of innovation in the insurance
March 20, 2015
“ERGO Insurance” signed a long-term cooperation agreement with the Venture Capital Fund Nextury Ventures in Lithuania, which invests in business start-ups and high-potential business ideas. With the help of the Nextury Ventures team, ERGO will search for ideas, which could turn into innovation in the insurance field. According to ERGO representatives, the decision to use start-ups were determined by a general need for fresh winds of change and progress in the insurance business in Lithuania.
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ERGO Security Index: Estonians and Lithuanians feel more secure about their lives than Latvians
August 28, 2014
The Baltic research on the Security Index that has been organised by the ERGO insurance company in the Baltic States and the SKDS public opinion research centre shows that Estonians are most convinced about their everyday lives, while Latvians are least secure. In nearly all of the five dimensions of the Security Index, the views of Latvian residents are lower than in the other Baltic States when it comes to the extent to which they are worried about the possibility of undesirable or negative events in their lives. The overall rating for Estonia is +8, in Latvia it is -13, and in Lithuania it is -5.
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ERGO in the Baltic States in 2014: ahead of insurers with regards to NPS, growth of the market share and 17 times bigger profit
August 25, 2014
ERGO in the Baltic States is consistently growing both in GWP, profit as well as in size of the market share in some segments. According to an IFRS-based assessment, in the half year of 2014 ERGO amounted to EUR 2.5 million profit, which is 17 times bigger in comparison to the equal period last year (EUR 0.14 million in 1-2 Q of 2013). ERGO wrote more than EUR 77.6 million premiums, what resulted a moderate growth (EUR 76.6 million in 1-2 Q of 2013) and increased its market share in health insurance segment from 19.1% to 19.7%.
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ERGO transfers management of pension funds in Estonia to Nordea
May 22, 2014
The leading insurance company in the Baltics, ERGO and the largest Nordic financial group Nordea have agreed that the new fund manager of pension funds of ERGO Funds AS in Estonia will be Nordea Pensions Estonia AS. The transfer has been approved by the Estonian Financial Supervision Authority. -
ERGO and Nordea have submitted application to Estonian FSA regarding transfer of management of ERGO pension funds to Nordea
May 13, 2014
Baltic leading insurance company ERGO and Nordic largest financial group Nordea have submitted application to Estonian Financial Supervision Authority (FSA) regarding transfer of management of ERGO pension funds to Nordea. -
ERGO was profitable in all tree Baltic countries
May 13, 2014
According to an IFRS-based assessment, ERGO in the Baltic States in the 1st Q of 2014 wrote more than EUR 39.2 million premiums. Positive result amounted to EUR 1.98 million profit. In the 1st Q ERGO customers in the Baltic countries were paid EUR 19 million claims. -
ERGO awarded dance prizes
May 09, 2014
On Saturday, May 3, ERGO, the main sponsor of the Estonian National Ballet, handed out the ERGO Dance Awards 2014 at the ballet gala held on International Dance Day. The award for the best female dancer went to Abigail Sheppard and the best male dancer award to Vitali Nikolajev. -
People in Latvia start to think about Life Insurance sooner, Lithuanians save most money
April 25, 2014
People in Latvia are likely to start thinking about various life insurance solutions and the ways in which money can be saved up in relation to such policies at an average of four to eight years earlier than is the case in the other Baltic States, the ERGO Insurance Company has found. Analysis of the company’s data show that Lithuanians save up the most money via various insurance products, spending an average of two times more on individual insurance solutions annually than the people of Latvia and Estonia do.
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ERGO in the Baltic States was profitable by increasing efficiency
November 18, 2013
According to an IFRS-based assessment, ERGO in the Baltic States in 9 months of 2013 wrote more than EUR 112 million premiums, which resulted in a growth of 5%. Positive result amounted to EUR 3.3 million profit. In the 3 Q quarters ERGO customers in the Baltic countries were paid 5.2% more claims compared to the equal period last year – EUR 63.3 million.
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ERGO in the Baltic States in 2013: growth in premiums and benefits paid out to the customers
August 15, 2013
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ERGO in the Baltic States in 2012: more premiums, profit and benefits paid out to the customers
February 14, 2013
According 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, 2013
At 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 the life insurance business with the legal form of the European Company named ERGO Life Insurance SE. 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, 2012
1. 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, 2012
According 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, 2012
This 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, 2012
According 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. -
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).
