Ardaf SA

Active on the market since 1992, (this year, in October the company celebrates 15 years of activity) and positioned in the first years of existence among the top insurers in Romania, the Insurance Reinsurance Company ARDAF was the first company, on the local profile market, to obtain the certification in the Quality Management System ISO 9001:2000. At the beginning of 2007 the company was taken over by PPF Investments Group, one of the leaders in the insurance and financial markets in Central and Eastern Europe and Asia. On 24 of February 2009, in Prague – Generali PPF Holding and PPF Investments, international private equity group, have closed the transaction announced in June 2008 regarding acquisition of majority stakes in ARDAF (82%). On july 7 2009, Generali PPF Holding raised it's share in Ardaf to 98,88 % Generali PPF Holding B.V. operates in 14 Central and Eastern European countries: the Czech Republic, Slovakia, Poland, Hungary, Romania, Bulgaria, Ukraine, Russia, Serbia, Slovenia, Croatia, Belarus and Kazakhstan. Through its subsidiaries, Generali PPF Holding manages assets exceeding EUR 12 billion and serves more than 10 million clients across the region. Generali PPF Holding is registered in the Netherlands and its main organizational branch is based in Prague, the Czech Republic. Generali PPF Holding B.V. is a joint venture company of Assicurazioni Generali (51% share) and PPF Group (49% share).