(ANSA) - MILAN, MAY 23 - Generali becomes stronger in central and eastern Europe through the acquisition of Adriatic Slovenica, the third biggest company in Slovenia, and of Concordia Insurance and Concordia Polska Tuw in Poland. ''This is another step forward in the group's strategy to further improve its footprint in this area'', a press release remarked, underling that Generali considers the CEE area ''as one of its key drivers for growth and a strategic market, in which the company aims to strengthen its competitive position and improve its profitability''. The ''Lion'' of Trieste has not disclosed the value of acquisitions. According to a statement issued by Kd Group, a seller of the Slovenian company, cited by the Bloomberg news agency, the company was sold for 245 million euro. Thanks to this acquisition, Generali becomes the second biggest operator in the country. These two acquisitions ''allow us to balance and diversify our portfolio, sales channels and regional presence'' and increase Generali's business in Austria, CEE & Russia ''by around 7%, reaching over 6.4 billion in terms of premium income'', said Luciano Cirinà, CEO of Generali CEE Holding. ''We are already one of the largest insurance groups in central and eastern Europe - he added - but we still see this region as a target for further strategic growth and investment''. Thanks to this 'shopping', Generali - which produces 10% of premiums and 15% of its operating profit in eastern Europe - becomes stronger, in particular, in the non-life and health sectors, as well as in asset management. Adriatic Slovenica - after Generali took full control - allows the Lion of Trieste to become the country's second biggest operator (it used to be the fifth biggest). The company, which offers non-life, health products and pension plans, has over 1.7 million contracts and over 500 thousand customers, with a premium income of 304 million in 2017 and a market share of about 15%, with 373 points of sale in Slovenia. The acquisition includes the mutual fund manager, KD Skladi, which manages assets amounting to over 750 million with a 20% market share in Slovenia and a presence in Croatia and Macedonia. Concordia Poland, one of the leading players in the agricultural insurance segment, has 330 thousand customers and had a premium income of 120 million in 2017. In Poland, Generali has 1,300 employees and is the eighth biggest operator with a gross premium income of 550 million and a market share of 3.8% in 2017. (ANSA).