Existing customers will not be affected by the changes.
Despite this, he added 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 added. “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.”
Practical sense
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 fashion.”
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 investments.
