Largest Czech insurer to be created in shock merger

The insurance companies Ceská pojišťovna (ČP) and Generali have merged to create the largest insurer in the Czech Republic. The new financial giant will trade under the name Generali Ceská pojišťovna. The two companies claim that the customers of both companies will benefit as they will have access to a wider range of products, both on the retail, business and the industrial side of the business. České spořitelny Kooperativa, the result of a previous merger, will be replaced at the top of the country's insurance sector once it is approved by regulators.