German group Ergo is interested in general insurance

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German group Ergo, which is poised to enter the local life insurance market, has also shown interest in general insurance, and intends to set up a new company or make an acquisition, Andreas Grosse, client manager of the non-life segment for Romania at Munich Re Group, majority shareholder of Ergo, told Ziarul financiar.
 
"We are on the lookout for opportunities on the general insurance market, and if an acquisition arises, we will certainly be interested. If we don’t buy a company, but set up one instead, the entry onto the market will take longer. In the case of an acquisition, you don’t have to start from scratch," said Grosse.
 
The Munich Re representative regards the local insurance market as having high growth potential, after entry into the European Union provided a significant boost. Market sources say Munich Re is interested in taking over Unita, held by the Vienna Insurance Group, which was recently put up for sale.
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