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Insurer Generali says to start operating in Belarus

Thu Aug 21, 2008 6:52am EDT

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MILAN, Aug 21 (Reuters) - Italian insurer Assicurazioni Generali (GASI.MI) said it would start operating in Belarus by end-2008 after its Generali PPF Holding joint-venture obtained a licence for the eastern European country's non-life sector.

Generali said on Thursday the new company would be called Generali Belarus.

"By entering Belarus, Generali PPF is now operative in 13 different markets in the CEE (Central-Eastern Europe) region," Generali's managing director Sergio Balbinot said in a statement.

Generali PPF Holding is 51 percent owned by the Italian insurer while Czech financial group PPF holds the remaining 49 percent.

(Reporting by Valentina Za)



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