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ERGO Group to take 24.9% stake in Taishan Property & Casualty Insurance

Written by Adam Cadle
08/06/2020

ERGO Group has announced the signing of a shareholder’s agreement and capital increase agreement to take a 24.9% stake in Taishan Property & Casualty Insurance (Taishan Insurance), a Shandong-based nationwide P&C insurer in China.

The deal marks a significant step by the leading German insurer to deepen and expand its services in the Chinese market.

ERGO Group CEO and chairman of the board of management Markus Rieß said: “In our global portfolio, China holds a central role. Taishan Insurance is a dynamic and ambitious insurance company in the Chinese P&C market, which drives its business with great competence and determination. We are looking forward to building a strong partnership together and to bundling our strengths in this important market”.

This transaction is subject to the approval by relevant authorities.

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