Guernsey headquartered Generali International has announced a joint
venture with Assicurazioni Generali S.p.A United Arab Emirates (AG
UAE), a branch of Generali International's Italian parent.
Generali International, headquartered in St. Peter Port,
Guernsey, is a specialist arm of the global financial services
conglomerate, the Generali Group, offering sophisticated and
powerful life insurance based wealth management solutions to a
During recent years Generali International has experienced
significant growth in many jurisdictions and as part of its
continued expansion plans it has now announced the joint venture.
The initiative will offer Generali International's popular and
award winning savings and investment plans, Vision, Choice and
Professional Portfolio, to the Dubai market under the licence of AG
UAE. Generali International will market and administer the policies
under a service level agreement.
Debbie Le Noury, Head of Generali International, said:
"This joint venture provides us with an innovative way to
promote our award winning products by leveraging off the global
footprint of the Generali Group. Our colleagues from the United
Arab Emirates bring with them a wealth of expertise of the market
and we look forward to a successful partnership which will bring
benefits to our respective companies. We expect this to be the
first of many similar joint ventures."
The initiative is a reflection of the high regard in which
Generali International is held within the Generali Group, where it
is seen as a centre of excellence for the development, promotion
and administration of these investment-linked products. This is an
important stage in the continued success of Generali
International's operations in Guernsey, where it currently
employs more than 100 people. It also reflects the importance to
the Group of the United Arab Emirates as a future growth area.
Nick Griffin, Head of Sales at Generali International, expressed
his excitement at the opportunity.
"Dubai is a lucrative market for our type of
offering," he said.
"The UAE has an open economy with one of the highest per
capita incomes in the world. There is a sizeable expatriate
population in addition to an affluent domestic population, which
are the primary markets for our type of products."
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