ERGO restructure could cost 1,800 jobs
A year after a full-scale restructuring, Munich Re subsidiary ERGO claims to be more efficiently structured, and intends to contribute more than €600 million in to the long term to the annual net profit generated by its parent.
As part of the restructuring, ERGO is now investing systematically in digitalisation and aiming to strengthen its international organisation structures.
"Fit, digital and subsequently successful – these are the goals we have set ourselves", says ERGO CEO Markus Rieß in an update on the restructuring.
Ergo was formed in 1997 through the merger of D.A.S., DKV, Hamburg-Mannheimer and Victoria and has since been Munich Re’s primary insurance business segment.
Munich Re, ERGO, Insurance, Reinsurance, Technology, Europe