Austria, CEE & Russia
The new ACEER regional structure is the fourth most important market for Generali, in which the Group has strengthened its presence up to becoming one of the top insurance companies of the entire area.
Figures as at December 31, 2018, refer to CEE. Market share and rankings refer to 2017
Twelve nations fall within the ACEER scope: Austria (At), Czech Republic (Cz), Poland (Pl), Hungary (Hu), Slovakia (Sk), Serbia, Montenegro, Romania, Slovenia, Bulgaria, Croatia and the recent Russia Regional Office. The Group can boast its presence in the Eastern Europe territories since 1989. In 2008, a joint venture collaboration with PPF Holding started and ended in 2015, the year in which Generali acquired full control and powers over Generali CEE Holding.
Two important entities entered the area in 2018: Austria, where Generali has been present since 1832, the year after the company’s foundation in Trieste, and Russia, where Generali is expanding. Generali reinforced its competitive and income position last year thanks to the acquisition of Adriatic Slovenica, in this way becoming the number two insurance group in Slovenia, and Concordia Insurance together with Concordia Polska Tuw in Poland, and to the bancassurance agreement with Unicredit for the distribution of insurance solutions mainly related to Credit Protection Insurance (CPI) in the whole region. The Group also takes top rankings in the Czech Republic, Hungary, Serbia, Austria and Slovakia, and among the top ten in the other countries. In terms of volumes, on the other hand, main insurance markets are Austria, Czech Republic, Poland, Hungary and Slovakia. The contribution of the minor markets has improved during the last years, resulting in an increase of the premium income on the total volume of the area. Generali is also leader in terms of technical profitability thanks to a medium-long term net combined ratio at around 90%.
Key Events in Central and Eastern Europe
MANAGER IN CHARGE
The Regional Officer for Austria, CEE & Russia is Luciano Cirinà.