please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . may 2011 learn how and when to remove this template message this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . may 2011 learn how and when to remove this template message learn how and when to remove this template message ergo group ergo versicherungsgruppe type subsidiary industry financial services founded 1997 headquarters d sseldorf germany key people markus rie chairman of the management board nikolaus von bomhard chairman of the supervisory board products reinsurance primary insurance revenue 17 867 million euros 2015 number of employees 28 487 2015 parent munich re website www.ergo.com ergo ergo group is a group of insurance companies owned by munich re . ergo is one of the largest insurance groups in europe . it operates in over 30 countries especially in europe and asia . in europe ergo claims to be number 1 in the health and legal expenses insurance segments and in its home market of germany it is among the market leaders . it has over 40 000 full time employees . with premium income amounting to 18bn ergo offers different types of insurance and other services . ergo and its companies have claimed to have 40 million customers including 20 million in germany . munich re holds a 99.69 % stake in ergo . contents 1 main activities 2 history 3 share capital 4 sex scandal 5 references 6 external links main activities edit ergo group is one of the largest german insurance companies . its activities include life insurance health insurance non life and casualty insurance legal expenses insurance travel insurance and financial services . the main activities of the group focus on private clients company pension schemes and medium sized business . in europe ergo is the first in health and legal expenses insurance ; in its home market germany ergo claims to belong to the market leaders in all lines of business . the company consists of d.a.s. dkv ergo life insurance formerly hamburg mannheimer ergo insurance formerly victoria vereinsbank victoria bauspar europ ische reiseversicherung ag erv ergo direkt versicherungen formerly karstadtquelle versicherungen meag munich ergo assetmanagement capital investment company of ergo vorsorge lebensversicherung ag itergo it services provider of ergo outside of germany ergo group operates in over 30 countries . the foreign participations are mostly bundled in ergo international ag . ergo is mostly active in southern middle and eastern europe and asia . ergo group changed the structure of its group in late 2010 to offer non life and life insurances in germany under the ergo brand . the direct insurer karstadtquelle versicherungen was renamed ergo direkt versicherungen health insurance was consolidated under the trademark dkv and legal expenses insurance was put under the trademark d.a.s. the trademark erv will remain in business for travel insurance . the trademarks victoria and hamburg mannheimer were removed from the market . history edit ergo group ag came into being at the end of 1997 by the fusion of victoria holding ag and hamburg mannheimer ag ; the latter evolved from hamburg mannheimer versicherungs ag the life insurance company of hamburg mannheimer gruppe . on december 1 1997 the shareholders of victoria holding ag that was formerly listed on the stock exchange approved the transfer of the whole property of their companies to ergo group ag . every nominal share of victoria could be exchanged for ten bearer shares of ergo . victoria holding ag disappeared from the stock exchange after the closure of the transaction on february 2 1998 ; its place in mdax was taken by ergo group ag . on april 1 2001 the majority shareholder m nchener r ck today munich re announced an exchange offer to the shareholders of ergo in the framework of which two shares of ergo could be exchanged for one share of m nchener r ck plus cash payment of 18 euros . after the offer had expired in july 2001 the shares of ergo left the mdax due to the reduced free float . ergo versicherungsgruppe ag was renamed ergo group ag in april 2016 . share capital edit on the balance sheet day december 31 2006 the share capital of ergo group ag totalled 192 279 504 .20 divided in 75 492 117 bearer shares 2.60 each . the shares of ergo group ag are listed on the stock exchange under wkn 841852 and isin de0008418526 . 94.7 % since november 25 2009 99.69 % with the purpose to raise the participation to 100 % by means of the so called squeeze out of the shares belong to munich re . sex scandal edit in 2007 the company s subsidiary hamburg mannheimer held a party in budapest to reward around 100 of its sales agents involving an orgy with 20 prostitutes at the gell rt baths . when it became public knowledge in 2011 the company stated that it was a one off indiscretion . an internal audit discovered that the company had previously held incentive events at a swinger hotel in jamaica and at strip clubs in prague and hamburg . the contents of the report were made public by the german business newspaper handelsblatt in 2012 . 1 2 3 4 references edit http www.bbc.co.uk news world europe 13454160 http www.bbc.co.uk news world europe 13470731 http www.dw.de dw article 0 15091070 00.html http www.handelsblatt.com unternehmen versicherungen trotz skandals ergo belohnt vertreter weiter mit incentive reisen 7083516.html external links edit official website companies portal v t e major insurance and reinsurance companies insurance composite aegon ageas aig allianz allstate aon aviva axa china pacific insurance china taiping generali ing japan post insurance national mutual insurance federation of agricultural cooperatives ping an insurance prudential plc pzu state farm insurance the hartford unipol unipolsai usaa vienna insurance group zurich insurance group farmers insurance group general insurance berkshire hathaway bnp paribas bradesco seguros direct line group hyundai marine & fire insurance if p & c insurance insurance australia group liberty mutual mapfre ms & ad insurance group picc qbe insurance rsa insurance group samsung fire & marine insurance sompo japan tokio marine travelers xl group life insurance aia aviva bupa china life cnp assurances dai ichi life great eastern jackson legal & general lic india lincoln manulife financial meiji yasuda life metlife new york life nippon life northwestern mutual old mutual phoenix group prudential financial samsung life scottish widows standard life sumitomo life sun life swiss life taikang life reinsurance gen re hannover re lloyd s of london munich re reinsurance group of america scor swiss re xl group methodology applicable fy2013 14 revenues of over us 3 billion retrieved from https en.wikipedia.org w index.php title ergo group & oldid 735663919 categories insurance companies of germanycompanies based in d sseldorfhidden categories articles with a promotional tone from may 2011all articles with a promotional tonearticles needing additional references from may 2011all articles needing additional references navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages deutscheestifran aislietuvi edit links this page was last modified on 22 august 2016 at 07 53 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view