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October 5, 2022
BUSINESS

Insurance Oversight Commission approves RAI portfolio transfer to Ardaf

The Insurance Oversight Commission (CSA) yesterday announced it had passed the transfer to Ardaf Insurer/Reinsurer of the general insurance portfolio of Roumanie Assurance International (RAI). Ardaf, which began operating in 1992, is indirectly held by Generali PPF Holding, which came to hold Ardaf stock in 2008, when it acquired from PPF Alpha Limited 72.75 per cent of the shares the company controlled through Iberian Structured Investments (The Netherlands). Last year, Ardaf announced it would negotiate the takeover of the RAI insurance policy portfolio, both companies being controlled by Iberian Structured Investments.

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