ERGO International AG plans to operate under a single insurance brand across Lithuania, Latvia, and Estonia following the completion of its acquisition of ADB Gjensidige, a move that consolidates operations and adjusts competitive positioning in the Baltic insurance market.
The transaction covers ADB Gjensidige, the former Lithuanian subsidiary of Gjensidige Forsikring ASA, together with its branches in Estonia and Latvia. ERGO said all conditions required to complete the deal, including regulatory approvals in the three Baltic states, were met according to schedule.
Following completion, ERGO said it ranks as the third-largest insurance company in the Baltics by premium volume. ADB Gjensidige had previously ranked as the sixth-largest non-life insurer in the local market. ERGO said the combination brings together product offerings and sales activities across insurance lines and results in the second-largest sales network in the region.
Integration will proceed through a merger between ADB Gjensidige and ERGO Insurance SE, which will act as the absorbing company. Upon completion, ADB Gjensidige’s health insurance portfolio will be transferred to ERGO Life Insurance SE. The merger process has begun and is expected to continue gradually until the end of the year. During this period, both companies will continue operating as separate legal entities, with ADB Gjensidige retaining its brand until full integration is completed.
“The successful conclusion of this acquisition marks a significant step in the ambition to further develop our diversified, robust business and position ourselves sustainably among the leading insurance companies in all our markets,” said Theo Kokkalas, chair of the board of management of ERGO International AG and chief operating officer of ERGO International. “With this strategic move, we strengthen our position in the region for the long-term, enabling us to grasp attractive growth opportunities in a very dynamic business environment.”
Ursula Clara Deschka, chief executive officer and chair of the board of management of ERGO in the Baltic States, said the combination of teams and expertise from ERGO and ADB Gjensidige positions the group to serve customers with a unified operating model.
ERGO’s Baltic operations include ERGO Insurance SE, which provides property and casualty coverage, and ERGO Life Insurance SE, which offers life and health insurance. In 2024, the two entities reported combined insurance revenue of €343.5 million. ADB Gjensidige, which focuses on motor, property, and accident and health insurance for commercial and private customers, reported insurance revenue of €158.9 million in 2024.
The Baltic integration aligns with ERGO’s wider efforts to streamline regional structures. In July 2025, ERGO completed the merger of its Danish travel insurance and Norwegian health insurance businesses into a single Nordic entity, according to market disclosures. ERGO has also deployed AI-supported claims assessment technology in Estonia, Latvia, and Lithuania, a system introduced through a partnership with India-based CamCom Technologies and now live in the Baltic markets.
The agreement underlying the Baltic transaction was signed by ERGO International AG and Gjensidige Forsikring ASA and announced on July 25, 2024.
