Italian insurance group Generali owns nearly 5,000 hectares of agricultural land and more than 7,000 ha of forest in Romania, where it also operates a winemaker. The vineyard owned in western Romania has more than 110 ha.

Generali, best known for its activity on the insurance market, reports an annual business of over RON 30 million (EUR 5 mln) from agriculture and viticulture in Romania, Ziarul Financiar reported.

Last year, the company Genagricola Romania, which operates the group's agricultural business, obtained a turnover of RON 28 mln, up 29% year-on-year, with only 46 employees.

The Italian group also owns another local company, Vignadoro, which manages the Dorvena winery in Arad county. This business fell sharply last year, by 23%, to RON 2.7 mln.

"We have 900 hectares planted with vines in some of the most important wine regions in Italy (790 hectares) and Romania (110 hectares)," the company reported.

andrei@romania-insider.com

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