Thus, the Generali Asigurari insurance company, the Generali Fond de Pensii pension fund, RAI, and ARDAF will add “member of Generali PPF Holding” to their brand, sources within these companies told Business Standard. The three insurance companies had a 10 percent market share at the end of last year’s first nine months, with total businesses worth €170.6 million, while the pension fund is the third-largest player on the mandatory private pension market, with an eight percent share in terms of net assets value.
ARDAF registered losses worth RON 50.76 mln (almost €14 mln) in least year’s first three quarters, up 40 percent year-on-year. The gross premium income rose to RON 285.7 mln (€78.5 mln), triple compared to the first nine months of 2007.
The sources say the companies will function as distinct entities, with separate strategies.
