Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT

(MUV2)
  Report
Delayed Quote. Delayed Xetra - 05/14 11:35:00 am
242.7 EUR   +1.42%
05/10MUNICH RE  : UBS reiterates its Buy rating
MD
05/10MUNICH RE  : Deutsche Bank gives a Neutral rating
MD
05/07MUNICH RE  : Deutsche Bank remains Neutral
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

New ERGO e-bike insurance: worldwide all-risks cover, 100% reimbursement of purchase price, electronics and mobility cover

04/09/2021 | 08:56am EDT

Comprehensive cover for the fast-growing e-bike segment.

Electric bicycles are becoming more and more popular in Germany. The number of private households that own at least one e-bike has almost tripled in the last five years. With immediate effect, ERGO is offering e-bike insurance with comprehensive all-risks cover valid worldwide. It includes 100% reimbursement of the purchase price in the event of total loss or loss of the bicycle over the full term of the contract. It also includes electronics, battery and mobility cover.

ERGO E-Bike

E-bikes are driving a boom in the bicycle industry, with double-digit growth in some cases. During the Covid crisis in 2020, sales were some 43% up on the same period in the previous year (source: Zweirad-Industrie-Verband, the German bicycle industry association). The new e-bike insurance covers 'pedelecs', colloquially referred to as e-bikes, which provide motor assistance up to 25 km/h. Faster bikes such as s-pedelecs, with assistance up to 45 km/h, have to be covered through motor insurance. As Peter Schnitzler, who heads up the third-party liability and property lines of business, explains, 'E-bikes offer a new form of mobility, but do pose different challenges from traditional bicycles. For example, with sensitive electronics, a larger range and usually a significantly higher value, a loss or repair can easily become very expensive. We have therefore put together an all-inclusive package'.

Worldwide all-risks cover

The e-bike insurance offers comprehensive, worldwide cover for all kinds of destruction, damage, theft, burglary and robbery. In the event of total loss, ERGO reimburses 100% of the purchase price during the entire term of the contract - with no deductions. The insurance also covers premature deterioration in the battery's performance, applying if performance falls by over 50% in the first three years following purchase of a new battery. Defects in materials, construction and manufacture are also covered - losses occurring after expiry of the manufacturer's or supplier's guarantee or warranty obligations are insured.

Electronics and mobility protection

At the heart of an e-bike are its sensitive electronics. It was important for the e-bike insurance to reflect that, so it covers damage caused by short circuits, induction, overvoltage and moisture. And thanks to the mobility protection, a mechanical problem doesn't mean the trip is over. Because ERGO reimburses costs resulting from a breakdown, e.g. the journey home by taxi, the recovery service or even overnight hotel accommodation - up to EUR500 per breakdown and EUR1,000 per year. Customers are free to choose the workshop carrying out the repair. As Andrea Mondry, member of the Board of Management of ERGO Versicherung put it, 'When we designed the product, our focus was always on what customers need. We are there for our customers when it matters'.

You can find the new e-bike insurance online at https://www.ergo.de/de/Produkte/Hausrat-und-Gebaeudeversicherung/ebike-versicherung

Andrea Mondry

Member of the Board of Management of ERGO Versicherung AG

Picture Print (JPG file)

Picture Digital (JPG file)

For further information, please contact:

Claudia Wagner

ERGO Group AG

Media Relations

Tel +49 211 477-2980

claudia.wagner@ergo.de

media-relations@ergo.de

About the ERGO Group AG

ERGO is one of the major insurance groups in Germany and Europe. Worldwide, the Group is represented in around 30 countries and concentrates on Europe and Asia. Four separate units operate under the umbrella of the Group: ERGO Deutschland AG, ERGO International AG, ERGO Digital Ventures AG and ERGO Technology & Services Management AG. German, international, direct and digital business as well as the global management of IT and tech-nology services are combined there.

About 38,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2020, ERGO recorded a total premium income of over 18 billion euros and rendered benefits to customers (gross) of around 16 billion euros. ERGO is part of Munich Re, one of the world's leading reinsurers and risk carriers.

More at www.ergo.com

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT
05/10MUNICH RE  : UBS reiterates its Buy rating
MD
05/10MUNICH RE  : Deutsche Bank gives a Neutral rating
MD
05/07MUNICH RE  : Deutsche Bank remains Neutral
MD
05/07MUNICH RE  : NorldLB reiterates its Neutral rating
MD
05/07MUNICH RE  : UBS gives a Buy rating
MD
05/07MUNICH RE  : Berenberg maintains a Buy rating
MD
05/07Accident Insurance Market to Get a New Boost | American Intl, Assicurazioni G..
AQ
05/06MÜNCHENER RÜCKVERSICHERUNGS-GESELLSC : Notification and public disclosure of tra..
EQ
05/06MUNICH RE  : Gets a Buy rating from RBC
MD
05/06MUNICH RE  : DZ Bank gives a Neutral rating
MD
More news
Financials
Sales 2021 56 358 M 68 432 M 68 432 M
Net income 2021 2 778 M 3 373 M 3 373 M
Net Debt 2021 272 M 330 M 330 M
P/E ratio 2021 12,3x
Yield 2021 4,28%
Capitalization 34 002 M 41 270 M 41 287 M
EV / Sales 2021 0,61x
EV / Sales 2022 0,59x
Nbr of Employees 39 741
Free-Float 100,0%
Chart MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT
Duration : Period :
Münchener Rückversicherungs-Gesellschaft Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 276,04 €
Last Close Price 242,70 €
Spread / Highest target 26,7%
Spread / Average Target 13,7%
Spread / Lowest Target -11,8%
EPS Revisions
Managers and Directors
NameTitle
Joachim Wenning Chairman-Management Board
Christoph Jurecka Chief Financial Officer
Nikolaus von Bomhard Chairman-Supervisory Board
Nicholas John Gartside Chief Investment Officer
Frank Fassin Independent Member-Supervisory Board
Sector and Competitors