Generali increases its presence in Central Europe

Generali has acquired the entire capital of Generali PPF Holding (GPH), one of the leading insurance players in Central and Eastern Europe, the capital it used to detain jointly with PPF. The acquisition of 49% stakes missing to Generali cost the Italian insurer 2.5 billion EUR (3.3 billion USD). The agreement between the two groups also includes the cession of Generali operations to PPF in Russia, Ukraine, Kazakhstan and Belarus.