Insurance companies Generali and Ardaf, controlled by Italian group Generali, will merge, but the brands and the sales networks of the two companies will be kept, announced the shareholder of the two companies. The new company will be called Generali Romania and is set to be one of the top-five local insurers, according to calculations based on aggregate financial results for the entire market in the first half of last year. "The merger will create a stronger and more efficient company and will consolidate the long-term strategic presence of the Generali group in Romania, according to shareholders' plans," said Marie Kovarova, coordinator of the Generali group's operations in Romania. Generali was the third largest insurance company in terms of gross premiums underwritten in the first half of last year, while Ardaf ranked 11th.
Access Investments-Building Awareness - European Union-ROMANIA
Monday, February 21, 2011
Insurance companies Generali and Ardaf, controlled by Italian group Generali, will merge, but the brands and the sales networks of the two companies will be kept, announced the shareholder of the two companies. The new company will be called Generali Romania and is set to be one of the top-five local insurers, according to calculations based on aggregate financial results for the entire market in the first half of last year. "The merger will create a stronger and more efficient company and will consolidate the long-term strategic presence of the Generali group in Romania, according to shareholders' plans," said Marie Kovarova, coordinator of the Generali group's operations in Romania. Generali was the third largest insurance company in terms of gross premiums underwritten in the first half of last year, while Ardaf ranked 11th.
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