Munich Re Unit

Ergo to launch industrial insurer

Watch this face. Source: Allianz

Around two years after taking the helm of German insurer Ergo, Chief Executive Markus Riess has embarked on an extensive restructuring program. As well as making some changes to top management, he wants to set up a new industrial insurance unit within the group, which belongs to German reinsurance giant Munich Re.

Mathias Scheuber, 60, will become the new head of the group’s subsidiary Ergo Versicherung AG. Mr. Scheuber, considered an expert in the shift to digital claims processing, will join the company from German insurer Allianz, where Mr. Riess has also worked previously. He will take over from Markus Hofmann, who will remain in charge of broker sales at Ergo Versicherung, but will also take on management tasks at the new industrial insurer, Ergo International Corporate Solutions.

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