Generali to take over ERGO’s insurance business in Hungary, Slovakia

Generali has signed an agreement to take over the life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The terms of the deal will not be disclosed, but the gross written premium of the three ERGO entities totalled EUR 20.6mn in 2017.

Generali said the deal was in line with the groups’ expansion plans in Central and Eastern Europe (CEE). The acquisition procedure will proceed after getting the required regulatory approvals.

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