Austria, CEE & Russia
Since January 1, 2018, the Region consolidates Austria, CEE and Russia. CEE includes Czech Republic (CZ), Poland (PL), Hungary (HU), Slovakia (SL), Serbia, Montenegro, Romania, Slovenia, Bulgaria and Croatia.
Figures as at December 31, 2016 and related to CEE
Key Events in Central and Eastern Europe
Generali CEE Holding is one of the biggest insurers in the Central Eastern European market. The Group ranks second in the Czech Republic, Hungary and Serbia, third in Slovakia and among the top ten in the other countries.
In terms of volumes, main insurance markets are Czech Republic, Poland, Hungary, 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 CEE is the best in the entire region by technical profitability, with a medium-long term Net Combined Ratio at below 90%.
Austria (figures as at December 31, 2016)
Generali has operated in this country since 1832 and is the third largest insurance operator in terms of written premiums, with a market share of 14.0% in life insurance and of 16.3% in P&C. It currently operates in the country through the insurance companies Generali Versicherung, BAWAG P.S.K. Versicherung and Europäische Reiseversicherung. The multi-channel distribution strategy involves multiple sales channels: agents, brokers, financial advisors and banks (BAWAG P.S.K. and 3Banken). The strategy adopted in the Austrian market reflects that of the Group, allowing the company to confirm its position as market leader in the retail sector thanks to the focus on customers and on their needs and to the quality of services, offering simple and innovative solutions.