Generali Deutschland AG
AMB Generali Holding AG: Merger of Volksfürsorge with Generali
AMB Generali Holding AG / Strategic Company Decision/Forecast Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- The AMB Generali Group is set to substantially improve its competitive position by a corporate reorientation. In this context, the Board of Management of AMB Generali Holding AG has presented to the company's Supervisory Board today a package of measures providing for the merger of Hamburg-based Volksfürsorge Versicherungen and Munich-based Generali Versicherungen. The new property/casualty and life companies are to operate under the name 'Generali' and they will have their head office in Munich. Hamburg as a location will be maintained. The merger of the companies is scheduled to be completed by the beginning of 2009. With the implementation of these measures AMB Generali plans to achieve annual cost reductions of about € 100 m. For 2007 AMB Generali expects a Group net profit of € 400 m. For the business year 2008 the company has forecast a net profit of € 450 m. For the two following years and on the basis of the measures already under implementation and the presented merger of the two insurers, the Group expects to increase its net profit to € 500 m in the business year 2009 and to € 550 m in the business year 2010. 27.09.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: AMB Generali Holding AG Aachener und Münchener Allee 9 52074 Aachen Deutschland Phone: +49 (0)241-461-01 Fax: +49 (0)241-461-1805 E-mail: investor.relations@amb-generali.de Internet: www.amb-generali.de ISIN: DE0008400029 WKN: 840002 Indices: MDAX Listed: Amtlicher Markt in Berlin, Frankfurt (Prime Standard), Düsseldorf, Hamburg, München; Freiverkehr in Hannover, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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