* For banks, enterprise value is substituted with market cap. Source: Bloomberg Finance L.P.
Ergo appears in the following brand league tables:
2013 brand performance*
* Figures taken on 31st December 2012.
2012 brand performance*
* Figures taken on 31st December 2011.
2011 brand performance*
* Figures taken on 31st December 2010.
2010 brand performance*
* Figures taken on 31st December 2009.
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.
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.