Generali Group, one of Europe's largest insurers, is taking over Zurich Financial Services' insurance business, including pensions, in Poland, Hungary, Slovakia and the Czech Republic.

The move is part of Zurich's strategy to concentrate on key markets in Continental Europe. The Zurich companies are involved in life and non-life businesses in Hungary, Slovakia and Czech Republic as well as pensions in Poland. The Polish pensions business has €270m ($236.3m) in assets and is the fifth largest in the country. The firms employ 490 people in total.

Generali acquires Zurich's Eastern European business

Pirkko Juntunen

Generali Group

Zurich Financial Services

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