Green light for the Generali and Concordia merger in Poland

10 June 2019 — Daniela GHETU
The Polish Financial Supervision Authority agreed to the merger of Generali Zycie and Concordia Capital. Maciej FEDYNA, Member of the Management Board of Generali Polska, will perform the function of President of the Management Board of the Concordia Polska Mutual Insurance Society.

Andrea SIMONCELLI, president of Generali and chairman of the Concordia supervisory board, comments:

"We are excited about expanding our operations in Poland. This combination will give clients of both companies access to a full range of insurance products. As a result, we not only expand the portfolio of our products, but above all, we enrich our structures with Concordia experts with many years of experience in the agro sector and in cooperation with a new partner for us - the cooperative banking sector. By combining these elements, we will be able to offer customers of both companies even better products, give them the opportunity to buy insurance through an even larger network of our partners, improve their service processes."

The process of integration of Concordia companies with Generali structures began at the end of November 2018. The current consent of the PFSA to the merger of Generali Zycie and Concordia Capital is an important stage of it. The merger of the life companies is planned for the end of October this year, while Generali is also working on the merger of property insurance companies.

The Generali Group is one of the leading insurers in Central and Eastern Europe. In Poland, it operates through four companies.

Share |