Following the necessary regulatory and competition approvals, Generali CEE Holding BV, the parent company of Generali subsidiaries in the CEE, announced it has completed the acquisition of 4LifeDirect sp. z o. o., an innovative life insurance distribution company in Poland.
The transaction agreement was announced on December 22, 2023.
The operation is fully aligned with Generali’s “Lifetime Partner 24: Driving Growth” strategy, improving its business profile and profitability in the CEE region.
Manlio Lostuzzi, Generali CEE Regional Officer and CEO of Generali CEE Holding BV, said: “The finalization of this transaction will allow us to develop in the life insurance industry, serve our customers even better, using direct channel solutions and strengthening the Group's position in Poland.”
Roger Hodgkiss, President of Generali Polska added: "4LifeDirect is a distinctive direct sales platform on the Polish market, which, thanks to a properly organized call center, provides unique opportunities for selling life insurance in this channel. However, what is even more valuable is an experienced, stable and competent team. We are glad that they are becoming part of our Group."
4LifeDirect, a company specializing in direct sales of life insurance, has been operating in Poland since 2009. In 2020, due to Brexit, the portfolio of 80,000 life insurance policies was transferred from Red Sands Life Assurance Company (Europe) Limited to Generali Życie TUSA. 4LifeDirect continued to service the acquired clients, becoming an insurance agent of Generali Życie TUSA in July 2020.
This transaction does not require any activity from existing customers. All insurance contracts concluded through 4LifeDirect remain unchanged.
POLAND: Generali CEE Holding completes acquisition of 4Life Direct
2 July 2024 — Daniela GHETU
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