Generali Group launches Generali Malaysia

Global insurance provider, Generali Group recently launched Generali Malaysia, following the acquisition of a controlling majority in AXA Affin joint ventures in Malaysia and 100 per cent purchase of MPI Generali Insurans.

The transaction valued the acquired companies at close to RM1.29 billion (€262 million), making it one of the largest merger and acquisition (M&A) transactions in Malaysia in recent years.

On 1 April 2023, the businesses were integrated under a single, unified brand – Generali Malaysia. The integration positions Generali Malaysia as one of the largest general insurers and emerging life insurer in Malaysia, broadening its edge in a competitive market.

Generali Malaysia offers strong expertise in providing comprehensive protection solutions in all areas of general insurance – medical and health, motor and home, travel and personal accident, and business and commercial insurance. It also committed to further expanding its offerings to cater to customers’ growing needs.

Roberto Leonardi, Generali International Asia Regional Officer, said: “As a unified entity, we look forward to enhancing the Generali experience and becoming Lifetime Partners to our customers in Malaysia, as well as making a positive contribution to the communities in which we serve.”

The launch is aligned with Generali’s ‘Lifetime Partner 24: Driving Growth’ strategy to strengthen its leadership position in Malaysia – a country with strong potential for growth with its economic development and current low-insurance penetration.

“As an insurer with over 190 years of insurance heritage and experience, we strive to provide better experiences as a whole, by transforming our role to go beyond selling products and to provide more value-added, personalised service in line with our ‘Lifetime Partner 24: Driving Growth’ commitment,” said Fabrice Benard, Chief Executive Officer, Generali Insurance Malaysia and Country Head for Generali Entities in Malaysia.