Strategic takeover expands partnership with ÖAMTC and strengthens automotive market leadership
Vienna (OTS) – Generali Versicherung AG, as the leading shareholder to date, has acquired all of SK Versicherung AG and integrated it into Generali. The merger of SK Versicherung with Generali was completed on October 30, 2020. As a special motor insurer, SK Versicherung has been offering exclusive motor liability insurance for ÖAMTC members since 1992.
Walter Kupec, Chief Insurance Officer Property / Casualty at Generali Versicherung: “As the largest motor insurer in Austria, Generali Versicherung has maintained a close partnership with the ÖAMTC for many years. With the takeover of SK Versicherung, we are expanding this cooperation further and are now at the ÖAMTC’s side as the exclusive motor insurer with our high quality standards and reliable services. “
ÖAMTC Director Oliver Schmerold explains: “As a mobility club, we are constantly developing our services. This is how we guarantee the best possible service for our diverse members. With our reliable and innovative insurance partner, we will continue to optimize our services and adapt them to the needs of a modern and digital society. “
Future-oriented partnership
ÖAMTC and Generali have been cooperating for decades in the field of accident prevention, air rescue and insurance solutions. So far, Generali has acted as an insurance partner in the fields of legal protection, household and home ownership, as well as in comprehensive and passenger accident insurance. With the takeover of SK Versicherung, Generali covers the entire motor vehicle sector exclusively for the ÖAMTC.
Digitization is also being promoted. In 2019, they jointly implemented the online conclusion of legal expenses insurance on the ÖAMTC website.
With a market share of 17 percent, Generali is the automotive market leader in Austria. The acquisition of SK Versicherung increases the company’s market share in car insurance to around 18 percent.
THE GENERALI VERSICHERUNG AG
Generali Versicherung is the third largest insurance company in Austria and part of the Generali Group. Generali is one of the largest global insurance groups and asset managers. It was founded in 1831 and is represented in 50 countries with a total premium income of more than 69.7 billion euros in 2019. With around 72,000 employees serving 61 million customers, the group has a leading position in Europe and a growing presence in Asia and Latin America. Generali is a lifetime partner for its customers and offers innovative and individual solutions thanks to a unique sales network. In Austria, Central and Eastern Europe and Russia, the Generali Group is active in thirteen countries through the Austria, CEE & Russia Regional Office (Prague) and is one of the three largest insurers in the region.
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