Generali, Czech Group in East Europe venture.Italian insurer Generali Group is joining forces with Czech international financial group PPF PPF Plasma protein fraction, see there Group to combine their Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. business to create a new insurer. The joint venture will be 51% owned by Generali. The main insurance unit of PPF is Ceska pojistovna Group. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Generali, based on pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma 2006 data, the joint venture's annual gross written premiums will total more than 2.6 billion [euro], with an embedded value Embedded Value A common valuation measure used outside North America particularly in the insurance industry. It is calculated by adding the adjusted net asset value and the present value of future profits of a firm. of 2.3 billion [euro] (about $3.14 billion) and more than 9 million customers in 12 countries. The joint venture will unite all of Generali's and PPF's insurance assets in the Central and Eastern European region, giving the combined group unrivaled reach across 12 countries: The Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. , the Slovak Republic, Poland, Hungary, Romania, Bulgaria, Ukraine, Russia, Serbia, Slovenia, Croatia and Kazakhstan. "Generali's historical ties to the CEE cee n. The letter c. region are well known. Since returning to Hungary, we have developed our presence so that we currently operate in 10 countries, serving some 4 million customers," said Sergio Balbinot, co-chief executive of Generali Group, in a statement. "By joining forces, we become the leading player in [Central and Eastern Europe] with a pool of over 9 million clients," he said.
Looking East
Projected market share in Central and
Eastern Europe for a proposed joint
venture between Italy's Generali and
PPF Group of the Czech Republic.
Life Non-Life
Bulgaria 9.6% 5.8%
Croatia 7.0 1.1
Czech Republic 32.3 40.6
Hungary 10.1 20.2
Poland 2.3 1.5
Romania 3.6 5.9
Russia 0.2 0.7
Serbia 17.7 10.5
Slovakia 9.2 12.1
Slovenia 4.2 2.3
Ukraine 8.1 8.6
Source: Generali
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