Munich Re’s ERGO acquires non-life insurer ADB Gjensidige in the Baltics

Core Insights - ERGO Group has successfully completed the acquisition of ADB Gjensidige, enhancing its market presence in the Baltic region [1][2] - The acquisition positions ERGO as the third-largest regional insurer based on premium volume, leveraging ADB Gjensidige's existing strengths [3] - The merger will allow ERGO to operate under a single brand across Lithuania, Latvia, and Estonia, aiming to establish itself as the leading insurer in the Baltics [4] Company Strategy - The acquisition is part of ERGO's strategy to develop a diversified and robust business, positioning itself sustainably among leading insurance companies [5] - The integration of ADB Gjensidige into ERGO is expected to enhance the company's ability to seize growth opportunities in a dynamic business environment [6] - The new structure aims to provide tailored solutions and significant added value to clients and partners in the Baltic states [7] Financial Performance - ADB Gjensidige generated insurance revenue of €158.9 million in 2024, indicating its significant role in the non-life insurance market in the Baltics [7]