ERGO Group Officially Enters China’s P&C Market through Strategic Investment in Taishan Insurance Go back »

2021-11-29 | Beijing

ERGO Group Officially Enters China’s P&C Market through Strategic Investment in Taishan Insurance

ERGO Group, one of the major insurance groups in Germany and Europe, was granted regulatory approval on Nov 29th to become the shareholder of Taishan Insurance, a Shandong-based nationwide property and casualty (P&C) insurer in China. ERGO Group has acquired 24.9% equity interests of Taishan Insurance via its subsidiary ERGO Versicherung AG, which marks a significant step by the leading German insurer to deepen and expand its services in the Chinese market.

In ERGO’s global portfolio, China holds a central role. For nearly two decades, ERGO Group has made China an increasingly important part of its business strategy. ERGO Group entered the Chinese market in 2005 and since then has expanded its portfolio to include life insurance, health insurance, travel assistance, health management and mobility solutions powered by data and technology. ERGO Group’s strategic investment into Taishan Insurance is another milestone, which demonstrates ERGO’s strong entry point into China’s P&C market, forging dual growth driver in Life and P&C lines of business as well as reflecting ERGO’s long-term and deep commitment to China’s insurance market.

The regulatory approval marks a new chapter for ERGO’s business in China. ERGO’s insurance expertise and global resources will continue to offer a compelling value proposition to ERGO’s customers and partners in China.

Source: ERGO China