The deal was signed today, no sums were disclosed. In addition, the cooperation between the two companies, which has been ongoing since 2007, was extended.
Generali CEO Gregor Pilgram explained in a press release today: “Bawag is a major player on the Austrian financial market. I am pleased that we are continuing and strengthening this strategic cooperation.” Generali Austria says it manages three billion euros in premium income with around 4,600 employees.
3.7 percent market share
Bawag PSK Versicherung was formed in 2007 from the merger of Bawag-Versicherung and PSK-Versicherung and, according to the 2023 balance sheet, holds a market share of 3.7 percent. The premiums written for classic life insurance amounted to EUR 104.5 million last year, and the premiums for unit-linked life insurance amounted to EUR 86.4 million. The company employs 72 people.
