On 1 October, the Management Boards of Generali osiguranje, company registered in Croatia, and Generali zavarovalnica dd, Zagreb Insurance Branch (formerly Adriatic Slovenica Zavarovalna druzba dd, Zagreb Branch) signed the Minutes on the conclusion of the transaction that will reunite under one roof all the Croatian business of the Italian group.

This operation completes the process of preparing the transfer of the insurance portfolio of the Croatian subsidiary of Slovenian Generali to the new insurer, ie Generali Croatia. Previously, in April 2020, an Agreement on the transfer of assets was concluded and approved by the Croatian market authority (HANFA) in July.

By signing the Minutes, according to the Croatian and Slovenian legislation, Generali osiguranje took over the insurance portfolio on 1 October 2020, consisting of insurance contracts concluded by Generali zavarovalnica dd, Zagreb Insurance Branch in within the transferred asset. The transfer of the portfolio has no effect on the existing rights and obligations of clients, which remain in force in the same form and content.

The President of the Management Board of Generali osiguranje dd Mario CARINI pointed out:

"This acquisition, the second we are finalizing this year, enables us to further strengthen Generali's presence on the Croatian market, our distribution capabilities and our offer in targeted segments such as motor insurance and life insurance. We welcome our new clients to the Group by offering them a wider range of insurance solutions with the ambition to become their Life-time, lifelong partner. "