Italian insurance giant Generali has announced the opening of its Representative Office in Moscow by Austria, Central & Eastern Europe, Russia Regional Officer and Chief Executive Officer of Generali CEE Holding, Luciano Cirinà, and the Chairman & CEO of Generali Russia & Commonwealth of Independent States, Giorgio Callegari.
“As we inaugurate our new Moscow office, we celebrate a landmark step in our expansion in Russia,” said the group CEO of Generali, Philippe Donnet.
“Generali observes with increasing interest and commitment the evolution and growth of a market which is expressing an increasingly sophisticated demand and requires new products and insurance solutions.”
Donnet added that the firm appreciates the efforts by the Russian government and authorities to provide strong and positive regulatory guidance to the insurance sector, and “looks forward to Generali Russia’s continuous success.”
“Our cooperation with Ingosstrakh reaches back to more than 30 years,” added Cirinà.
“Since then we have been supporting Generali customers in the former USSR and then Russia, meeting their needs in the area of corporate insurance and employee benefits.”
“We strongly believe that we will continue in building a strong and mutually profitable relationship and intensify our industrial cooperation in Russia. Generali’s Austria, CEE and Russia Region is in the DNA of Generali,” continued Cirinà.
Indeed, this announcement follows the recent news that Generali had acquired a 100% stake in Polish asset management company Union Investment TFI, a move aimed at strengthening its presence in the region.
“In Austria and CEE we serve more than 12 million customers, we are the leader in the region in terms of profitability and we are proud to contribute 9% to the Generali Group’s total premiums and more than 15% to the Group’s operating result.”