Ergo
Brand value
$2,860m
Brand rating
AA-
Enterprise value
$9,964m
Value / market cap
28.7%
This brand has received no votes.
Market cap
* For banks, enterprise value is substituted with market cap. Source: Bloomberg Finance L.P.
Performance of the brand
ERGO belongs to the Munich Re Group, one of the world’s leading risk carriers and reinsurers. With over 40 million customers, ERGO represents one of Europe’s major insurance groups and is the European market leader in private health and legal expenses insurances. ERGO is represented in over 30 countries worldwide with more than 55,000 employees. In 2010, the ERGO Insurance Group quoted a total premium income of €20,131 million, a 5.7% increase over the 2009 results. Furthermore, the financial year 2010 was particularly characterised by the measures taken to implement the ERGO Group’s new brand strategy, aiming to make ERGO’s full-service concept more evident to its customers. At this, ERGO combines the new brand presence with a clear promise to its customers: The new slogan “To insure is to understand” stands for the goal of a strict alignment to the customers’ needs in all areas of the Group.
Although ERGO does not yet appear in any BrandFinance® league table, its brand value already increased by 2.9% in 2011 to $2,561 million. At the same time, the Group’s brand rating improved from A in 2010 to AA- in 2011.
However, in May 2011, a big scandal shook the image of the big insurer. In order to reward their efforts and achievements within the ERGO Group, 100 of the best managers had been invited to a sex party in Budapest, costing the Group €83,000. After the scandal reached the public, not only customers lost trust in ERGO, but also the Group’s sponsorship contract with Borussia Dortmund was put on hold. This severe damage of the company’s image will certainly affect the Group’s brand rating in the upcoming 2012 brand valuations.
League tables
Ergo appears in the following brand league tables:
Rank 397 in the
Global 500 2012.
Rank 29 in the
Germany 30 2012.
Rank 431 in the
Global 500 2011.
Rank 431 in the
Global 500 2011.
Rank 27 in the
Germany 30 2011.
Rank 381 in the
Global 500 2010.
2012 brand performance*
Brand value
$2,860m
Brand rating
AA-
Enterprise value
$9,964m
Value / ent. value
28.7%
* Figures taken on 31st December 2011.
2011 brand performance*
Brand value
$2,561m
Brand rating
AA-
Enterprise value
$11,066m
Value / ent. value
23.1%
* Figures taken on 31st December 2010.
2010 brand performance*
Brand value
$2,488m
Brand rating
A
Enterprise value
$11,187m
Value / ent. value
22.2%
* Figures taken on 31st December 2009.
Company history
In 1984, the first step for the future ERGO Direkt insurance was made when the life and non-life insurance company Quelle + Partner Lebens- und Sachversicherung was established. With only three employees, the insurer managed to earn a gross premium income of €0.3 million within the first year. In 1989, the company was renamed to Quelle Versicherungen and Quelle Krankenversicherungs AG (health insurance division) was added in 1991. Due to the success in Germany, Quelle Lebensversicherungs AG Austria was opened in 1992. In 1997, D.A.S., DKV, Hamburg-Mannheimer and Victoria merged to establish the ERGO Insurance Group, followed by market entries in Poland, Italy and the Baltic States. In 2000, Quelle Versicherungen already counted over 1.7 million customers and more than €520 million in gross premium income. In 2002, the ERGO Versicherungsgruppe AG (ERGO insurance group) acquired Quelle Versicherungen and transformed it into KarstadtQuelle Versicherungen. In 2006, KarstadtQuelle Versicherungen counted over 1,300 employees, as well as over 3 million customers in Germany and Austria. After ERGO Versicherungsgruppe AG acquired all legal rights for KarstadtQuelle Versicherungen, the company was named ERGO Direkt Versicherungen in 2010.
Key people
Dr. Torsten Oletzky, CEO
Dr. Torsten Oletzky serves as Chief Executive Officer of ERGO Versicherungsgruppe AG since 2008 and is responsible for corporate communications, legal affairs, internal auditing, and group development. After completing his studies in Business Administration at the University of Saarland and the University of Michigan in 1993, he started his career at McKinsey & Company before joining Hamburg-Mannheimer Versicherungs AG in 2000.
Dr. Christoph Jurecka, CFO
Dr. Christoph Jurecka serves as Chief Financial Officer of ERGO Versicherungsgruppe AG since February 2011 and is responsible for risk management, accounting, taxes, and planning and controlling. Before joining ERGO, he served as Chief Risk Officer at AXA Konzern AG and CFO of AXA Winterthur.
