Ergo Group's Victoria Volksbanken, a life insurance firm in the Czech Republic, has changed its name to Ergo in a move which is part of the group's marketing strategy to establish all companies under one brand name.
Jiří Číhal (pictured), an actuary at Ergo, told SRP that the change will not affect the firm's product strategy and that it will continue to offer products when market conditions are more favourable for creating attractive offers.
"At the moment, we do not plan to issue in the near future as we are not able to create a product matching our clients' requirements which include full capital protection and some interesting options," Číhal told SRP. "We will consider new products when conditions allow us to respond to client demand with competitive structures."
Any new structured products offered by the firm in future will be launched under the Ergo brand.
The company has previously marketed four products to retail investors over the last two years, including one continuous unit-linked insurance product, Život³, which is also available in Austria and Slovakia.