Generali to merge with Ardaf, both brands kept
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.