German Ergo buys Vital Forsikring’s Baltic life insurance ops

German insurer Ergo (ETR:EVG2), a unit of Munich Re (ETR:MUV2), said yesterday it has bought the life insurance operations of Norwegian Vital Forsikring in Latvia and Lithuania.Ergo bought the assets through Ergo Lietuva Gyvybes Draudimas and Ergo Latvia Dziviba.No financial terms were revealed.Ergo also said it has inked a five-year partnership agreement with Latvian bank DnB Nord (RSE:NLB1R) to come into effect in the next few months, under which the bank will sell Ergo life insurance products in Latvia and Lithuania.Country: Latvia; LithuaniaSector: InsuranceTarget: Vital Forsikring's life insurance assets in Latvia and LithuaniaBuyer: Ergo Versicherungsgruppe AGVendor: Vital ForsikringType: Corporate acquisitionStatus: Closed((Comments on this story may be sent to [email protected]))