Generali sets up Luxembourg EB branch
Insurer Generali has launched a new branch in Luxembourg, specifically dedicated to employee benefits (EB). The move, according to the company, is part of its strategic initiative to consolidate its position in the sector.
Generali’s Luxembourg branch, which will be regulated by the country’s Commissariat aux Assurances and Italian regulator IVASS, will operate as a reinsurance division in order to meet the requirements of global employers and employees. The aims, said the company, are to: consolidate the company’s position in the Multinational Corporate segment; accelerate expansion in the International Middle Market segment; and launch new initiatives in the health and wellness, business travel assistance, voluntary employee benefits and pensions areas.
“The opening of the new branch of Generali in Luxembourg, solely dedicated to EB, highlights the strategic importance of this line of business for the Group,” commented Generali Employee Benefits’ CEO Sergio di Caro. “This fact, together with the ongoing initiatives in the fields of customer segmentation, product offering and technology, forms part of a wider development plan aiming at strengthening our leading position in the international EB market and improving the service to our customers."