Zedelius: We are allying with a top partner. Aside from the fact that EBRD has become a well respected and experienced institution throughout the entire CEE region, EBRD has been active in Slovakia since 1992 and has developed a deep understanding of the Slovakian market. We will benefit from EBRD’s trustful relationships with the Slovak government and other decision makers in the market.

For Allianz Group, joining forces with EBRD highlights a milestone in its development in the insurance markets of the New Europe. Both partners stand for entrepreneurship, financial strength, trustworthiness and reliability. We are sure that the partnership will be mutually advantageous for our customers and employees in Slovakia as well as for Allianz Group and EBRD.

Therefore, we are happy to welcome Kurt Geiger, Executive Director of EBRD, who has joined Allianz Slovenska poist'ovna's supervisory board.

Zedelius: The European Bank for Reconstruction and Development was established in 1991 when communism was crumbling in central and eastern Europe and ex-soviet countries needed support to nurture a new private sector in a democratic environment. Today, with its investments, London-based EBRD facilitates the building of market economies and democracies in 27 countries from central Europe to central Asia.

The EBRD is the largest single investor in the region. It is owned by 60 countries and two intergovernmental institutions. It invests mainly in private enterprises, usually together with commercial partners – such as in our case. The Bank uses its close relationship with governments in the region to promote policies that will bolster the business environment.

Zedelius: Allianz Slovenska poist'ovna is number one in figures and we'd like to demonstrate that we are also number one in service to our customers. We will continue to be 'the' Composite Insurer and aim to extend our client relationships, listening closely to their needs.

Additionally, we are keeping a close eye on the pension and health reforms. Should legislation allow commercial insurers to participate we would certainly be interested to engage in this field.

Zedelius: The companies have been operating jointly since January 1, 2003. We unified market strategy and customer approach, and we have streamlined the product lines. Substantial synergies have been achieved by centralizing and streamlining the organization.

The fact that the EBRD now has become a shareholder of the merged company, Allianz-Slovenska poist'ovna, proves that it is attractive and that the merger has been a success.

Zedelius: We rapidly entered these markets after 1990 and have already reached a position of 'regional adolescence': We are the leading foreign insurer in the region and market leader in several countries. Our focus now is on profitable growth.

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