Press Release Archive for April, 2007
Generali and PPF Group to Combine their Central and Eastern Europe Business to Create the Region’s Leading Insurer
April 26th, 2007Trieste and Amsterdam, April 26, 2007. Assicurazioni Generali’s Board of Directors met today under the chairmanship of Antoine Bernheim. Assicurazioni Generali and PPF Group N.V., through Ceska pojistovna, the leading life and non-life insurance group in the Czech Republic, announce that they have entered into a preliminary joint venture agreement to create the leading insurer in the Central and Eastern European region.
The new JV will unite all of Generali’s and PPF Group’s insurance assets in the CEE region giving the combined group unrivalled reach across the following twelve countries: the Czech Republic, the Slovak Republic, Poland, Hungary, Romania, Bulgaria, Ukraine, Russia, Serbia, Slovenia, Croatia and Kazakhstan.
Read the full press release (PDF): ppf.pdf
Generali Group is operative also in the Non-Life sector in China
April 17th, 2007Sergio Balbinot: “Generali China Insurance will soon emerge as one of the leading operators in the sector”
Trieste, 17 April 2007, Assicurazioni Generali has been granted by China Insurance Regulatory Commission (CIRC), the local supervisory insurance authority, the definitive license to operate in the nonlife sector in China.
The newly born Generali China Insurance Company, co-participated by Assicurazioni Generali and China National Petroleum Corporation (CNPC), will be the first Sino-foreign joint venture operating in the Chinese non-life insurance market, following the model set up in 2002, when the two groups established Generali China Life Insurance Company, the insurance joint venture operating in the life insurance market. The company will operate in the Chinese market, which is growing at a pace of 20% per annum.
Headquartered in Beijing, Generali China Insurance will soon start its gradual expansion throughout the country with the aim to underwrite both personal lines and commercial risks, including the captive business from its local shareholder CNPC, through an extensive network of branch offices.