Announced

Unknown

Synopsis

ERGO International is selling its Non-Life insurance business in Russia to RESO-Garantia. The Moscow-based P&C insurance company provides a range of insurance products and services for individuals and legal entities in Russia and internationally. Representatives of both enterprises signed a purchase agreement. The sale is subject to regulatory approvals. The parties have agreed not to disclose details of the purchase price. Under the agreement RESO-Garantia acquires 100 percent of shares in ERGO Non-Life and takes over the whole company, including staff, the client portfolio and IT systems. The change in ownership of ERGO Non-Life Russia will not in any way affect obligations towards ERGO’s current clients. “ERGO Non-life is a high quality business with strong consumer loyalty. This acquisition advances the non-organic part of RESO’s growth strategy aimed at expanding its highly profitable motor insurance portfolio and maximizing cost synergies”, says Dmitry Rakovshchik, CEO of RESO-Garantia.

Show Details & Financials

Did you work on this deal?

Showcase your expertise to over 3 million dealmakers and industry leaders on Datasite.

Sort

By continuing, you agree to our Terms & Conditions and our Data Privacy Policy

All rights reserved. Copyright © 2025 Datasite