Generali buys Polish asset manager Union Investment TFI

Italian insurer Generali will acquire Polish asset management company Union Investment TFI from the German Group Union Asset Management Holding to bolster its presence in central and eastern Europe (CEE).

Union Investment TFI is said to be Poland’s 6th largest asset management company with an asset under management of €3.3bn. It offers a broad range of fund products across equities, fixed income and absolute return.

Generali has been operating in Poland since 1998. It provides property and casualty insurance to retail and corporate clients as well as life insurance products, and it is also active in the pension fund segment.

“In addition to our multi-boutique initiative for Europe announced in May 2017, we seek to benefit from the growth opportunity of CEE, especially in Poland, the largest market in the region," said Timothy Ryan, CEO of Generali Asset Management.

"We will be leveraging on the strong position of Generali Poland and Union Investment TFI, combining our own expertise with that of experienced local investment professionals who have an excellent performance track record, to deliver the best possible investment solutions to customers.”

Luciano Cirinà, Austria, CEE & Russia regional officer and CEO of Generali CEE Holding, added: “We share our Group’s strategic vision. The Austria, CEE & Russia Region is pressing forward with the development of joint activities that combine insurance and asset management lines. We have already seen this process in Slovenia. We give our full support to the development of this unique strategic business opportunity in Poland."

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