Romanian Insurance Regulator Approves Ardaf, Generali Asigurari Merger

At the end of August, the shareholders of Ardaf and Generali Asigurari approved the merger of the two insurers. The name of Ardaf, the absorbing company, will be changed into Generali Romania after the merger is finished.

In 2010, the two insurers underwrote premiums of 657.05 million lei (EUR151.3 million), from RON834.05 million in the previous year. Generali Asigurari underwrote premiums of RON439.91 million last year.

The two companies had a joint market share of 9.4% in 2009 and of 7.9% in 2010.