GENERALI completes the sale of Worldwide and Link units

5 March 2019 — Andrei Victor
Italian insurer GENERALI informed that it has completed the sale of its entire shareholding in GENERALI Worldwide Insurance Company Limited and GENERALI Link to Life Company Consolidation Group - LCCG.

Originally announced in July 2018, "the transactions are part of the Group's strategy to optimize its geographical footprint, increase its operational efficiency and improve capital allocation", as the Italian insurer announced at that time in a statement.

GENERALI Worldwide Insurance Company Limited has its headquarters in Guernsey and specializes in offering life-insurance-based wealth management and employee benefit solutions to a global audience, including multi-national organizations, international expatriates and local resident populations, in a range of territories where it is licensed.

GENERALI Link is located in Ireland and was established as a shared service provider, particularly focused on Fund and Policy Administration. The organization provides services to GENERALI Worldwide as well as GENERALI PanEurope - which was acquired by LCCG and renamed UTMOST PanEurope dac.

GENERALI Worldwide will be renamed UTMOST Worldwide and will continue to remain active and will act as the partner of the GENERALI employee benefits network to serve its existing and future clients.

GENERALI will retain the health portfolio of GENERALI Worldwide in the Caribbean, which will be managed by the global health division of GENERALI. This will allow GENERALI to maintain its presence in the region with the aim to further reinforce it and to continue to pursue its strategy of sustainable growth and excellence in service.

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