Munich Re, ERGO Insurance Group and Italian UniCredit have agreed to extend the existing cooperation in Germany, Austria and Poland to further growth markets in the Central and Eastern Europe (CEE) region.
The focus of the cooperation is on developing the distribution of ERGO’s life and non-life insurance products through the branches of UniCredit subsidiaries operating in Romania, the Slovak Republic, Slovenia, Hungary, Russia and, to some extent, Poland where cooperation with Bank Pekao’s existing partner will continue. In the medium term, the same types of cooperation will also be extended to Serbia, the Ukraine, Bosnia and the Baltic States. In this context, ERGO will set up a centralised hub for the supply of cost-efficient and effective services to support local operations.
With this agreement, which was approved by UniCredit’s Board of Directors yesterday, the two groups aim to implement a long-term partnership and create value for both parties, thus ensuring high quality standards for their clients.
The focus of the cooperation is on developing the distribution of ERGO’s life and non-life insurance products through the branches of UniCredit subsidiaries operating in Romania, the Slovak Republic, Slovenia, Hungary, Russia and, to some extent, Poland where cooperation with Bank Pekao’s existing partner will continue. In the medium term, the same types of cooperation will also be extended to Serbia, the Ukraine, Bosnia and the Baltic States. In this context, ERGO will set up a centralised hub for the supply of cost-efficient and effective services to support local operations.
With this agreement, which was approved by UniCredit’s Board of Directors yesterday, the two groups aim to implement a long-term partnership and create value for both parties, thus ensuring high quality standards for their clients.
