Following the amalgamation of the two Guernsey-based companies,
which is subject to regulatory consent and is expected to be
completed by the end of the year, the new company will retain the
name Generali Worldwide Insurance Company and have combined assets
of over €5 billion (£3.6 billion, $5.3 billion).
The new company will look to capitalise on the increasing number
of internationally mobile individuals and global employers by
strengthening the two firm's existing ties and utilising the
full assets of the wider Generali Group, one of the world's largest
Aidan Cullen, Head of Marketing at Generali International and
Generali Worldwide, said the merger follows years of synergy
between the two companies, which share both management and
"The amalgamation will bring the two companies together to
singularly focus on the growing expat market, which, if it were a
country, would now be rated as the fifth largest population in the
world," he said.
"We envisage the transition process will have very little
impact on the organisations."
Existing customers will not be affected by the changes.
Nick Griffin, Head of Sales at Generali International, said that
Generali International will now have a licenced presence in more
countries and has its parent company's backing to seek out
other licenced opportunities in its merged form.
"We will look at individual jurisdictions in our own right
where they are compatible for us as we have already done in Hong
Kong and Singapore," he said.
"We will also look to collaborate more closely with the
companies within the Generali group for local opportunities, as we
have already done in the Middle East."
Giorgio Daboni, Chief Executive at Generali Worldwide Insurance
Company, added: "This amalgamation makes practical sense and
will enhance our ability to address the rapidly changing needs of
both individual and corporate clients in a seamless
Generali in Guernsey comprises Generali Worldwide Insurance
Company, Generali International, and Generali Portfolio Management.
Generali Worldwide focuses on internationally mobile and
multinationals around the world, providing them with employee
benefit solutions on a group basis. Generali International targets
local individuals internationally, focusing on savings and
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