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ERGO Group history
ERGO Group company history timeline
In 1875, the company was renamed VICTORIA zu Berlin Allgemeine Versicherungs-Actien-Gesellschaft, which reflected the broadened focus of a general insurer.
The third insurance company that became part of the ERGO group was Hamburg-Mannheimer, which was first incorporated as Vita Versicherungs-Actien-Gesellschaft in 1899.
In 1902, the Mannheim-based firm received a national concession to sell private insurance.
In 1904, VICTORIA founded a new subsidiary that offered insurance against fire which was gradually extended to burglary, flood, accident liability, and car insurance.
By the turn of the century VICTORIA had become the biggest life insurer in Germany and by 1913 the company was unsurpassed by any European life insurance company.
DKV was founded in 1927 in Berlin and started out with a solid capital base of 2 million Reichsmark and 15 employees eager to sell health insurance.
When the German government decided to deny any compensation for war-caused damages for companies over 25 percent foreign-owned in 1942, Svea sold its Hamburg-Mannheimer share packet to the Donner bank.
In 1978 the company founded D.A.S. Versicherungs-AG, a subsidiary which started offering other insurance programs besides legal insurance, including car, accident, liability, and different types of property insurance.
In 1993, Munich Re also acquired a 26 percent stake in the company from Swedish Skandia group that was formerly Svea.
1996 – Munich Re listed in the DAX 30 In 1996, the Frankfurt Stock Exchange lists the company’s registered stock in the DAX 30 – the index of the 30 largest and highest-turnover companies in Germany.
On July 4th, 1997, the four insurance companies VICTORIA, Hamburg-Mannheimer, DKV, and D.A.S. announced the formation of a new group--the ERGO Versicherungsgruppe.
Focus on Synergy and International Growth After 1997
1999: MUNICH ERGO AssetManagement GmbH (MEAG) is established together with Munich Re.
Through a share exchange transaction with Allianz and a public offer to buy ERGO shares, Munich Re was able to increase its share to 91.7 percent in 2001 and made HypoVereinsbank ERGO's exclusive distribution partner.
ERGO expected the introduction of the EURO in 2002 to further increase competition among Europe's direct insurers.
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Zippia gives an in-depth look into the details of ERGO Group, including salaries, political affiliations, employee data, and more, in order to inform job seekers about ERGO Group. The employee data is based on information from people who have self-reported their past or current employments at ERGO Group. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by ERGO Group. The data presented on this page does not represent the view of ERGO Group and its employees or that of Zippia.
ERGO Group may also be known as or be related to ERGO Group and ERGO SCIENCE CORP.