GERMANY’S ERGO SEEKS INDIAN PARTNER

Germany-based Ergo, the primary insurance arm of Munich Re, is seeking a partner in India to help it expand its business in Asia. It said that it was looking to offer both life and p/c business and that it hoped to set up an operation in 2007. Ergo said that it had identified the attractive customer and product segments, which distribution channels needed to be established, and its preferred operating model. Ergo said that “in-depth” talks would begin within the next few weeks. Klaus Flemming, board member in charge of international operations, said that “the Indian market presents a significant opportunity for new entrants”.