In Ergo, most new budget amount in the said will be used to modernize the computer system. The sales force and the company's management will also be streamlined, generated total net savings of up to 280 million euros in 2020, according to the ceo of Ergo, says Markus Riess, said at a press conference in Dusseldorf. These changes will assist Ergo can contribute 500 million euros annually in Munich Re's profits, the latest is from the year 2021, he said.Riess, 49 years old, he was recruited by the Executive Director of the group in Munich, said Nikolaus von Bomhard, in Re last year with the task of improving profit at Ergo. The company, currently contribute about a third of the total revenue premiums of Munich Re, recently announced a net losses to 227 million euros for last year, because the company was forced to lower the value of the life insurance business in the German market.
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