Ergo Insurance Group, the second-largest primary insurer in Germany, is looking for a joint venture partner for foraying into life, property and casualty (P&C) insurance in India. | |
| The group has conducted a comprehensive market evaluation to assess the feasibility of setting up insurance operations in India in 2007. |
| |
| It is expected to enter into advanced stages of talks with prospective Indian partners to discuss the structure of a potential co-operation within the next few weeks, in Ergo press release issued from Duesseldorf said. |
| |
| The group has identified the attractive customer and product segments, the distribution channels to be established, and the preferred operating model. The Indian market, with a population of 1.1 billion and an increasing demand for insurance, offers highly attractive long-term growth potential. |
| |
| "In our view the Indian market presents a significant opportunity for new entrants. Ergo's financial strength and insurance know-how, combined with strong market knowledge, reputation and pan-India presence through a local partner, will create value for all parties involved", said Klaus Flemming, board member in-charge of Ergo's international operations. |
| |
| With total premiums of euro 16.7billion, the Ergo Insurance Group is a leading European insurer with 3 crore customers in 23 countries. |
| |
|
| |
