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.
As of 1 April 2015, employees of Linas Agro may
participate in the pension accumulation program: to conclude individual
contracts and their employer will allocate an analogical amount of premiums to
employees, i.e. following the 50 / 50 principle of accumulation. The company
will contribute to the financial stability of its employees from its funds by
the pension program.
“The mission of our group of companies is not only to create value to our
customers and shareholders but also to provide employees with professional
development opportunities in the organization of high internal culture as
employees are the ones who create that value. One of the key values of our
group of companies is the long-term partnership. Therefore, we are interested
not only in long-term relationships with customers, but also with our internal
partners - our team. By contributing to the financial stability of employees,
the company seeks the long-term benefit to its employees. If pension
accumulation program becomes successful and is enjoyed by employees, we will
implement it in the other companies of Linas Agro Group as well”,states
Managing Director of AB Linas Agro Group Darius Zubas.
“While mostly foreign companies used to implement pension accumulation programs
for their employees several years ago, we observe that more and more Lithuanian
companies follow their example now. By signing a pension accumulation program
for its employees, an employer reveals its aim to ensure the loyalty of its
employees and its social responsibility. In addition, the economy growth from
the economic crisis effects higher investments of business in their employees”,
the Chairman of the Management Board of ERGO Insurance Companies in the Baltic
States and the CEO of ERGO Life Insurance SE Dr. Kęstutis Bagdonavičius points
out.
“We are glad that the company that is interested not only in business
development, but also in the future of its employees, joined the pension
accumulation program. We expect these programs to grow in popularity,"
says broker of the transaction Juozas Sargūnas, the Head of Motivation Programs
Department of the insurance brokerage company BALTO LINK.
ERGO in the Baltic States
ERGO is one of the leading insurance companies in the Baltic States which offer
non-life insurance, life and health insurance. The annual amount of premiums of
ERGO totals at about EUR 163 million in the Baltic States. Customers are paid
EUR 82 million per year on the average for insurance claims by ERGO in the
Baltic States. ERGO is also present in Belarus offering services to customers
in the non-life insurance sector. Over 550 thousand customers in the Baltic
States trust the services, know-how and financial stability of ERGO Group.
ERGO companies operating in the Baltic States are part of the international
ERGO Group, which is one of the largest insurance groups in Europe. ERGO is
represented in more than 30 countries in Europe and Asia.
The main shareholder of ERGO is Munich Re, one of the world’s largest
reinsurance groups.
For more information please contact: Lina Jakučionienė, Head of
Corporate Communication at ERGO Insurance Group in the Baltic States, tel. (8
5) 268 3076, 8 652 68614.
About AB Linas Agro Group
AB Linas Agro Group is an agribusiness parent company engaged in the production
and trade of grains, oilseeds, feedstuff, poultry and poultry products, also
agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and
Denmark. The group consists of international agricultural production trading
company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų
Centras KŪB (that manage 8 operating and two being built grain elevators),
trading companies in Latvia and Denmark, group of agricultural land management
companies ŽŪB Landvesta, holding of agricultural companies UAB Linas Agro
Konsultacijos, agricultural inputs supplier UAB Dotnuvos Projektai, logistic
company UAB Jungtinė Ekspedicija, Latvian poultry companies AS Putnu Fabrika
Kekava and SIA Lielzeltini, also other companies. The financial year of the
Group begins on 1 July.
From 17 February 2010 AB Linas Agro Group is included in the main list of
companies of Nasdaq Vilnius stock exchange.
For more information please contact: Tomas Tumėnas, Finance director of
AB Linas Agro Group, mob. +370 682 36 616, e-mail t.tumenas@linasagro.lt
