The establishment of Generali PPF Holding

(2008)

In January 2008, PPF and Generali established Generali PPF Holding to pool their CEE insurance assets and combine their expertise to form a CEE insurance powerhouse.

Profile

• Generali PPF Holding operates businesses in 14 countries and is one of the most important insurers in CEE. The holding company has total assets of EUR 13.8 billion and premium income of EUR 3.3 billion derived from over 10 million clients (from 2009 figures).
• The formation of the joint venture was a major step in the two groups' expansion strategies, creating a solid platform for future growth opportunities in one of Europe's most important geographic regions for insurance business. The deal valued the CEE insurance assets transferred by PPF Group at EUR 3.6 billion and those transferred by Generali at EUR 1.5 billion. Furthermore, Generali paid PPF Group a sum of EUR 1.1 billion to acquire a 51% interest in the joint venture. PPF Group holds the remaining 49%.
• The strategic objective of Generali PPF Holding is to develop appropriate financial products and services across all existing markets in CEE and subsequently to achieve a leading market position there. Standard & Poor’s rated Generali Group AA- with a stable outlook.

Countries in which Generali PPF Holding operates