ERGO , a subsidiary of Russia , has sold its ERGO life insurance business to domestic company Rosgosstrakh. The deal will see the new owners take complete control of the company's shares, workforce, client portfolio and IT systems. In a statement, ERGO Group AG said it will continue to reassess the performance of its international businesses, which operate in over 30 countries, opening the possibility that further parts of its operation could be sold.
ERGO Group AG, a subsidiary of Munich Re, has sold its Russian life insurance business to domestic company Rosgosstrakh. The deal will see the new owners take complete control of the company's shares, workforce, client portfolio and IT systems. In a statement, ERGO said it will continue to reassess the performance of its international businesses, which operate in over 30 countries, opening the possibility that further parts of its operation could be sold.