The Greek finance ministry has approved a merger between ERGO Hellas, ATE Insurance and ERGO Life through the absorption of the second and third company by the first. The decision was posted on the government’s diavgeia.gov.gr website on Tuesday.
An announcement said that “ERGO Insurance is an insurance organisation capable of guaranteeing and ensuring for insured parties and its partners the provision of modern insurance products in all insurance sectors, general, life and health and high-quality services based on understanding and satisfying their needs and providing them the best service. ERGO Group has established its presence in more than 30 countries in Europe and Asia with more than 40 million customers showing confidence in the services and expertise of ERGO Group and its parent Munich Re. ERGO Group’s premium production totaled 17.2 billion euros in 2016. ERGO Group’s investment in Greece proves the group’s confidence in the growth outlook of the Greek insurance market”.
Theodore Kokkalas, ERGO Hellas CEO, expressed his satisfaction over the successful completion of the merger deal.