Insurance company Generali Romania, resulting from the merger of insurers Generali Insurance and Ardaf, will have a new management team led by CEO Adrian Marin (in picture, right), former Deputy General Manager with Generali in Romania. Marie Kovarova (in picture, middle), who has been running Generali in Romania since 2008, will stay in the company's Surveillance Committee.

The new company's insurance products will be sold under two distinct brands and sales networks, namely Generali Asigurari and Ardaf.  The  integration process will take about a year to complete, with a promotion budget of EUR 3 million.

“We have a balanced portfolio, namely 48 percent the auto segment, 24 percent property, 19 percent life, 6 percent liability, and over 500 partners will work with the new company, such as brokers, banks, leasing companies”, said Adrian Marin, CEO Generali Romania.

Generali Group's representatives in Romania announced their first intention of uniting the two companies held by the group, namely Generali Asigurari and Ardaf, in February, 2011. Internal approval came in March, 2011, and the process was completed in about 6 months. The new company started work in September, 2011.

Generali Group is one of the largest insurers in Europe, with gross written premiums of over EUR 73 billion in 2010.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Generali)