According to the press release, with this transaction, Generali will establish the global #1 employee benefits network managing more than EUR 3 billion in premiums with the aim to set new standards in service and innovation for multinational clients and their employees worldwide.
Generali and Swiss Life Global Solutions will combine the strengths of both networks – GEB and Swiss Life Network – and their complementary profiles. This includes synergies across product offering (protection and pension, multinational pooling, reinsurance to captive), geographical footprint, client segments, and commercial and technical capabilities, underlined by a clear ambition to set a new reference in the global employee benefits market for customer experience, innovation and sustainable growth.
Ludovic Bayard – CEO of the Generali Employee Benefits Network (the employee benefits business line of Generali Care) – will lead the new combined network. This new unit will be part of Generali Care, the global B2B2C/E partnerships arm of the Generali Group. Frederik Van Den Eede, Chief Commercial Officer at GEB, and Michael Hansen, Chief Executive Officer of Swiss Life Network, will jointly lead the commercial area, to ensure a seamless transition and continued service excellence for all clients and partners. Additionally, GEB will welcome the experienced Swiss Life Network employees in their teams once the transaction is closed.
“The new platform marks a major milestone in strengthening Generali’s employee benefits business. By combining our well-established network with Swiss Life Global Solutions’ expertise and excellent partner relationships, Generali becomes the go-to partner for multinational corporations, SMEs, and their employees worldwide. We are excited to welcome the team and to work with Swiss Life Global Solutions Partners. Together, we will deliver best in class protection and pension solutions, enhanced by advanced digital services that promote employee wellbeing and drive sustainable business performance”, commented Ludovic Bayard, CEO of Generali Employee Benefits.
“This strategic step to strengthen and scale our employee benefits business, establishing the new global leader in this space, underscores Generali’s commitment to accelerating our B2B2C/E Care business growth with a clear focus on excellence in protection and health. It is fully in line with the ambitions of our “Lifetime Partner 27: Driving Excellence” plan and our commitment to delivering best-in-class Care solutions and innovation for multinational clients worldwide”, said Antoine Parisi, Group CEO of Generali Care.
“By contributing our expertise and excellent partner and client relationships to the well-established network and reinsurance and captive business capabilities of Generali, this creates a unique value proposition as a ‘Network of Choice’ for multinational clients”, said Theo Iaponas, CEO of Swiss Life International.
“By uniting the best captive and most flexible pooling solutions we will provide our network partners and clients with a true one-stop-shop experience, bringing together fresh perspectives and ideas through a diverse and inclusive global team a further strengthened network offering”, added Michael Hansen, CEO of Swiss Life Network.
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