Generali Group

          where we are

                                 

          Austria & CEE

          The Group has strengthened its presence in this area up to becoming one of the top insurance companies of the region.

          Data on the page are updated as of 31.12.2021. 12 countries are included in the perimeter: Austria (At), Czech Republic (Cz), Poland (Pl), Hungary (Hu), Slovakia (Sk), Serbia, Montenegro, Romania, Slovenia, Bulgaria, Croatia and lastly Russia.

          The area is called Austria & CEE from March 2022, following the Group’s decision to close its Moscow representative office, resign from positions held on the board of the Russian insurer Ingosstrakh and wind down Europ Assistance business in Russia.

          Austria & CEE
          Austria & CEE
          Gross written premium € 6,957 mln
          Total operating result € 885 mln
          Life market share AT 14.8%
          CZ 22.3%
          HU 9.8%
          SK 9.2%
          PL 4.5%
          P&C market share AT 14.9%
          CZ 28.9%
          HU 18.7%
          SK 13.6%
          PL 5.3%
          Ranking AT 3rd
          CZ 2nd
          HU 2nd
          SK 3rd
          PL 6th
          Our people 17,106

           

          The Group boasts its presence in the Eastern Europe territories since 1989. In 2008, a joint venture collaboration with PPF Holding started and ended in 2015, when Generali acquired the full control over Generali CEE Holding.

          In 2018, Austria, where Generali has been present since 1832, and Russia, joined the perimeter and a representative office was opened in Moscow. In the same year Generali strengthened its presence in the CEE region with acquisitions in Slovenia (Adriatic Slovenica) and Poland (Concordia). The M&A operations allowed to balance and diversify portfolios, sales channels and the presence in the area overall. In 2018, it has been signed as well the collaboration agreement with Unicredit for the distribution of insurance solutions mainly concerning Credit Protection Insurance (CPI) in the entire region.

          In 2019, the acquisition in Poland of Union Investment TFI S.A from the German group Union Asset Management Holding AG was completed and the agreement to acquire all Life, P&C and Mixed portfolios of three companies of ERGO International AG in Hungary and the Slovakia was concluded, in line with Group strategy. This operation will allow the cross-selling opportunities to be exploited through the customer base and to increase it.

          In 2020, Austria completed the acquisition of SK Versicherung AG (founded in 1982 as a joint venture between a number of Austrian insurance companies), signing an exclusive 5-year sales agreement with ÖAMTC (Austrian automobile, motorcycle and touring club). Furthermore, the Group completed the acquisition of the Izvor osiguranje portfolio in Croatia.


          In December 2021, representatives of Slovak Generali and Generali Česká pojišťovna signed a Sale of Business Contract based on which Generali will operate in Slovakia as a branch company of Generali Česká pojišťovna, under the name Generali Poisťovňa.

          Generali companies are in the top rankings in the Czech Republic, Hungary, Serbia, Austria and Slovakia, and among the top ten in the other countries. In terms of volumes, the main insurance markets are Austria, Czech Republic, Poland, Hungary, Slovakia and Slovenia. The contribution of the minor territories has improved during the last years, resulting in an increase of their gross written premiums on the total volume of the area. Lastly, Generali is leader in terms of technical profitability thanks to a medium-long term combined ratio lower than 90%.

          Key Events in Central and Eastern Europe


           
          2022
          March

          Generali decided to close its operations in the Russian market and the business unit is renamed Austria & CEE.

          2021
           
          March
           
          2018
          February
          2015
           
          June
           
          2008
          December
          1998
           
          May
           
          1989
          May

          1989 - Expansion plan launched in the area
          1998 - Establishment of Generali Versicherung from the merger between Generali Leben and Erste Allgemeine in Austria
          2008 - Creation of Generali PPF Holding, joint venture between Generali and PPF Group
          2015 - Full control ofGPH. Company name changed into Generali CEE Holding
          2018 - Creation of Austria, CEE & Russia Region to strengthen Generali's presence in markets where it already posts strong results
          2021 Representatives of Slovak Generali and Generali Česká pojišťovna signed a Sale of Business Contract based on which Generali will operate in Slovakia as a branch company of Generali Česká pojišťovna, under the name Generali Poisťovňa.
          2022 Generali decided to close its operations in the Russian market and the business unit is renamed Austria & CEE


          MANAGER IN CHARGE

          MANAGER IN CHARGE The Regional Officer ad interim for Austria & CEE is Giovanni Liverani.

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