At the beginning of July, a court in Gibraltar gave direction in relation to the proposed portfolio transfer of RED SANDS Polish policyholders - which offers insurance in Poland through 4Life Direct - to GENERALI. After obtaining the necessary regulatory and anti-trust approvals and conducting a legal process through the Gibraltar Supreme Court, holders of over eighty thousand Red Sands policies will become GENERALI's clients.
GENERALI CEE Holding representatives mentioned that "this is the beginning of GENERALI's strategic cooperation with 4Life Direct company, which also becomes the agent of GENERALI in Poland. This means that it already offers GENERALI Zycie TU SA policies to its customers".
4Life Direct Sp. z o.o. is part of 4Life International Group. The group is seated in London and is present on five markets in Europe: Polish, Czech, Slovak, Hungarian and Greek. It has been operating on the Polish market since 2009.
The RED SANDS Life Assurance Company (Europe) Limited is part of the RED SANDS group, which currently has over one million customers across Europe. RED SANDS Life Assurance Company (Europe) Limited, based in Gibraltar, is notified by the Polish Financial Supervision Authority in accordance with relevant European insurance regulations.