ERGO Group to acquire the Baltics operation of Gjensidige for €80m.

ERGO Group, an insurance services provider, agreed to acquire the Baltics operation of Gjensidige, an insurance brokerage services provider, for €80m. “Creating a leading Nordic P&C company is a key priority for me. A strong commitment to improve profitability and growth in the Nordics has been important for me from day one. The sale of our Baltic business supports such a strategy and shows our clear Nordic market focus, which is aligned with our core competence and capabilities. The divestment of Gjensidige Baltics is a result of our strategic review. We believe that this transaction creates the best long-term value for our shareholders and enables us to focus all efforts on our core markets in the Nordics," Geir Holmgren, Gjensidige CEO.