Insurance companies Generali and Ardaf, controlled by Italiangroup Generali, will merge, but the brands and the sales networksof the two companies will be kept, announced the shareholder of thetwo companies.
The new company will be called Generali Romania and is set to beone of the top-five local insurers, according to calculations basedon aggregate financial results for the entire market in the firsthalf of last year.
"The merger will create a stronger and more efficient company andwill consolidate the long-term strategic presence of the Generaligroup in Romania, according to shareholders' plans," said MarieKovarova, coordinator of the Generali group's operations inRomania. Generali was the third largest insurance company in termsof gross premiums underwritten in the first half of last year,while Ardaf ranked 11th.
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