Central & Eastern Europe
The countries of Central and Eastern Europe currently account for 5% of the Group's premium income, and 9% of the total operating result.
Key Events in Central and Eastern Europe
We are the leader in the region in terms of profitability, partly thanks to one of the best combined ratios in the industry (sum of incurred losses plus operating expenditure divided by earned premium).
In 2014, premium income reached €3.4 billion, or 5% of total Group premiums, while the operating result was €400 million, or 9% of the Generali Group's result. As for technical results, while the Life Segment remained fairly stable, with premium income of almost €1.5 billion, the P&C business performed excellently, with its combined ratio down to 87.7%, by far the best for the Group worldwide, and premium income up by nearly €2 billion.
Generali CEE oversees a business segment that is now the Generali Group's fourth largest market, and its importance is likely to grow. In Central and Eastern Europe overall we have 10 million customers and a sales force of 2,500 employees and 14,600 agents. We operate through Generali CEE Holding B.V. (formerly General PPF Holding GPH). The holding company, with headquarters in Prague, directs the operations of insurance companies in ten countries within the region (Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia).