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Generali wins youth insurance tender

Insurance company Generali-Providencia Zrt won the tender invited by Finance Ministry for providing general children and youth accident insurance until the end of 2009.

This insurance was born in 2003 due to PM Péter Medgyessy’s promise to finance the insurance for the age group of 3-18 years. From September 1, 2003 the provider was a group of insurance companies Aegon Magyarország Biztosító Zrt, Allianz Hungária Biztosító Rt, OTP Garancia Biztosító Zrt, Generali-Providencia Biztosító Zrt and Uniqua Biztosító Zrt, but, according to daily Napi Gazdaság information, the Competition Office (GVH) did not really approve this intertwining.

In the central budget there is Ft 350 million allocated, and the Finance Ministry calculates 1.5 million potential clients, while Generali expects 1.8 million. The price will be less than it used to be, i.e. less than Ft 220 a year, Generali official Ákos Ribényi told the daily. The low price is due to the fact that this insurance is very little known. In fact, the tender was not advertised in any way either. (Napi Gazdaság)