On 6 November 2018 the 409th Financial Supervisory Authority meeting was held. During the meeting the institution gave Generali consent to take over Concordia.
The Italian insurer can acquire shares of Concordia Capital (life insurance) and Concordia Polska TUW (non-life insurance) from their German shareholders Concordia Versicherung and Vereinigte Hagelversicherung.
Previously Generali received a permit from the antimonopoly watchdog – the Office of Competition and Consumer Protection. Read more: UOKiK gave Generali consent to takeover Concordia
The Authority imposed financial penalties on TUZ Towarzystwo Ubezpieczeń Wzajemnych at the level of PLN 15,000 for delays in awards and payment of motor insurance compensation and failure to fulfil reporting obligations.
