EnglishAssurances Generales de France (AGF), French insurance company and member of Allianz group, will operate on the Romanian insurance market. In this respect, the company has notified the Insurance Supervisory Commission (CSA), accordind to NewsIn. AGF has recently notified CSA of its intention to operate as an insurer in Romania, in accordance with the free movement of services principle. The French company will provide Romanian customers with o wide range of products and general insurance services.
Allianz has recenly announced that it intends to launch a tender offer for a stake of 42.4% in AGF, the German group already holding almost 60% in the French company. Speculations regarding a possible takeover after Allianz bought out the minority shareholders in AGF Italian unit, RAS insurance group. As a consequence AGF shares were, at the end of last year, among the the most traded shares on the European capital market.
According to Allianz officials, AGF is a major part of Allianz operations, contributing 16.3% to the company"s premium income in life and health insurance and 20.4% to its general insurance segment.
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