Aachen Munich merges marketing/sales operations

Bonn - The Aachen Munich group, which is controlled by Generali of Italy, is to merge the marketing and sales operations of its property and casualty company Aachener und Munchener Versicherung (AMV) with that of its life company Aachener und Munchener Lebensversicherung (AML). Backoffice activities may also be combined more closely. The two companies have performed well in recent months. The life operation has seen a 7.7% rise in premium income to Dm2.09bn in the first half of the year. And AMV has bucked the negative market trend among German property and casualty insurers and lifted gross premium income 2.1% to Dm1.24bn.