On a good track to fulfil Generali 2021 Strategy
09 January 2020
In the Austria, CEE & Russia Region, thanks to the strategic acquisitions, Generali continue to further grow in Croatia, Hungary, Poland, Slovenia and Slovakia. Let´s have a closer look at the Slovene and Polish mergers as the important milestones passed at beginning of the year 2020.
From 3rd January 2020 Generali zavarovalnica combines knowledge, products and power of the two insurance companies operating as one on the local market as Adriatic Slovenica and Generali successfully formally merged.
Generali zavarovalnica is one of the leading insurers as well as the biggest international insurance company on the Slovene market ready to further strengthen its market share. It offers an extended and even more accessible sales network throughout the entire Slovenia (with more than 300 sales points and more than 650 agents across the country). By developing new digital channels, and above all, by providing a comprehensive and quality range of P&C, life, pension and health insurances and assistance services, it will become even closer to the needs of its customers.
The new Management Board of the company will be initially led by two members - the President of the Management Board Vanja Hrovat and Member of the Management Board Mitja Feri. After obtaining the approval of the Insurance Supervision Agency (AZN), two more members will join the Management Board.
Vanja Hrovat confirmed: “As of the merger day we operate on the market under one brand name, as one company - Generali zavarovalnica - with a unified approach to customers. Our strategy is based on lifetime partnership with clients and on pursuing the highest customer satisfaction among Slovene insurers as we have done so far in Generali.”
Generali’s subsidiary, Generali Investments, the oldest and the most awarded asset management company in Slovenia, will also provide clients with quality investments and financial consulting.
Luciano Cirinà, Austria, CEE & Russia Regional Officer and CEO of Generali CEE Holding, congratulated our colleagues to this success: “To all our Slovene colleagues and all involved in supporting the integration project a great thanks for the professionality and the speed. Their work is a benchmark for future transformation projects.”
A new way towards the merger of Concordia Non-Life into a single Generali P&C entity opens in Poland as the demutualization of Concordia Non-Life was successfully completed on 2 January 2020. Therefore the company is transformed from a mutual insurance company into a joint stock company.
Maciej Fedyna, president of Concordia, on the demutualization: "I am very happy and proud that we have transformed the mutual insurance company into a joint stock company in Poland. We did it faster than we expected at the beginning. The success is even greater because we managed to demutualize a year after the acquisition of Concordia companies while running our current business, achieving great results in 2019 and merging life companies. It was the first successful operation of this type in Poland, requiring paving new paths. I want to thank all the employees who made their effort and commitment that we could do it. It would not have been possible without the very good cooperation of the Generali Polska group team with the supervision authority."