Generali Holding Vienna AG

euro adhoc: Generali Holding Vienna AG
Mergers - Acquisitions - Takeovers / Generali will acquire Ukrainian Garant Insurance companies

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 09.06.2006 Generali will acquire Ukrainian Garant Insurance companies Entry in Ukrainian market - acquisition of 51% of Garant Auto, the second company in the non-life sector, and Garant Life, the third in the life Ukranian business. Today Generali Holding Vienna AG has signed an agreement with the UkrAvto Group for the acquisition of 51% shareholding in Garant Auto and Garant Life, insurance companies that operate in the non-life and life segments respectively. The operation is waiting for the go-ahead from the Antimonopoly Committee of Ukraine. With this transaction in Ukraine, which comes after the recent entry in Serbia, the Generali Group has further pursued its strategic expansion and strengthening of positions in CEE, bringing to nine the coun-tries in which it operates. Karl Stoss, CEO of Generali Holding Vienna AG: "With this transaction in Ukraine, which comes after the recent entry in Serbia, the Generali Group has further pursued its strategic expansion and is strengthening its position in the CEE region, bringing to nine the countries in which we operate." With the acquisition of the Garant Auto Group, Generali becomes a leading operator in the Ukrainian market. Garant Auto Group: premium income doubled in 2005. First motor TPL provider in the country Garant Auto Group closed 2005 with a premium income of EUR 42.6 million, more than doubling the total of EUR 19.7 million reached in the previous year, and recording strong growth in both the life and non-life segments. Thanks to these results, at the end of 2005 the Ukrainian companies rank second in the non-life - first provider of motor TPL - and third in life business with a market share of 11%. Currently Garant Auto Group can rely on a client base of 400,000 and on a salesforce comprising 720 payroll and 1,200 independent salesmen. In addition, it can rely on an exclusive distribution agreement with UkrAvto Group’s car dealership network, which is the leader in the Ukrainian auto market. With a view to strengthening the partnership, UkrAvto will continue to be a shareholder holding a significant stake. Generali in Central Eastern Europe Generali has a significant presence today in Central Eastern Europe with approximately 3.5 million clients, operating in eight countries with a historically known trademark (Hungary 1989, Czech Republic and Romania 1993, Slovenia 1996, Slovakia 1997, Poland 1999, Croatia 2002 and Serbia 2006). In 2005, the premium income that rose by more than 22% to nearly EUR 940 million at the end of 2005. The insurance market in Ukraine: +42% average growth rate in the past three years With a population of approximately 48.7 million, Ukraine is the region’s second-largest country in terms of inhabitants. The insurance industry is rapidly expanding, recording an average growth rate of 42% over the past three years. The growth potential is testified also by low insurance penetration: GDP-to-premium ratio in the life segment in 2004 was 4.77% and 0.05% in the non-life, compared to an overall average of 8.41% in western Europe. (This is a translation of the original German information. In the event of any discrepancy, the German version shall apply.) end of announcement euro adhoc 09.06.2006 12:14:00 -------------------------------------------------------------------------------- ots Originaltext: Generali Holding Vienna AG Im Internet recherchierbar: Further inquiry note: Generali Holding Vienna AG Josef Hlinka Tel.: (++43-1) 534 01-1375 Fax: (++43-1) 534 01-1593 Branche: Insurance ISIN: AT0000661350 WKN: 873075 Index: WBI, ATX Prime Börsen: Börse Berlin-Bremen / free trade Hamburger Wertpapierbörse / free trade Frankfurter Wertpapierbörse / free trade Baden-Württembergische Wertpapierbörse / free trade Bayerische Börse / free trade Wiener Börse AG / official dealing

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