ERGO Austria holding company to have new management structureas of 2011

Harald Londer (47) to become a member of the Board of Management for the international division.

With effect from 1 January 2011, responsibilities in the executive divisions of ERGO Austria International AG are being restructured. Harald Londer is joining the Management Board team as of February 2011. He is moving from the Grazer Wechselseitige Versicherung Group to ERGO, where he will be responsible for the firm’s international operations. Karl Vosatka, who has been a member of the Board of Management of VICTORIA-VOLKSBANKEN Versicherung since 1992 and a member of the Board of Management of theholding company since January 2009, will be resigning all of his Management Board positions as of the end of 2010 in order to begin enjoying his pension.

Elisabeth Stadler, Chairwoman of the Board of Management at ERGO Austria International AG: “Following the physical relocation of our companies to a single location in the middle of 2010, we are now making an additional organisational move towards the joint strategic control of all of our companies by the holding company.” Overall responsibility for the life and non-life business at the operating companies BANK AUSTRIA Versicherung and VICTORIA-VOLKSBANKEN Versicherung will be consolidated into separate divisions at the holding companies, while responsibility for finance and services will be centralised for all of the companies. In order to more resolutely implement the one-carrier strategy abroad, an international division is being set up in the holding Board of Management in which responsibility for all international subsidiaries is being brought together under new leadership. Elisabeth Stadler: “We are very pleased that we have been able to enlist Harald Londer for this position. Not only does he have extensive knowledge of the insurance industry, but he also has many years of experience in bancassurance in Austria and abroad; expertise that is a valuable asset for our international alliances with UniCredit Group and Volksbanken Group.”

Harald Londer, who was born in Carinthia in June 1963, began his career in the insurance industry with Grazer Wechselseitige Versicherung in 1988. He worked for the UNIQA Group from 1993 until the end of 2008, where his responsibilities included bancassurance for Raiffeisen Versicherung. In February 2009 he returned to Grazer Wechselseitige Versicherung as head of bancassurance, where he was charged with expanding insurance sales through the group’s bank network in Austria and abroad. He was appointed to the HYPO Versicherung AG Board of Management in April 2009. Harald Londer: “I am very much looking forward to the opportunity to contribute my expertise to ERGO’s international operations. As a result of the intensification of existing markets and plans to further expand international operations, there is tremendous potential here.” Harald Londer is married and has two children.

The ERGO Austria International AG Board of Management will be comprised of the following:

Elisabeth Stadler (CEO), Josef Adelmann, Ingo Lorenzoni, Josef Kreiterling and Harald Londer. Karl Vosatka, who has been with VICTORIA-VOLKSBANKEN Versicherung since 1971 and has been a member of the Board of Management since 1992, is retiring at the end of this year. Among other things, he played a significant role in the successful expansion of VICTORIA-VOLKSBANKEN Versicherung’s international subsidiaries.

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