Italian insurer Generali has opened a new branch in the Grand Duchy of Luxembourg dedicated to the employee benefits (EB) business.
The launch of the new branch, the company said, is part of the strategy to consolidate its leadership in the EB sector.
The new Luxembourg branch will operate as the re/insurance operation of the group.
The insurer expects the newly launched branch to help it meet the new requirements and expectations of global companies and their employees.
Further, it will support the company to expand in the global middle market segment and roll out new initiatives in business travel assistance, health and wellness segment, voluntary employee benefits and pensions.
Generali CEO of global business lines and international Frédéric de Courtois said: “The creation of this new branch is another important step towards the strengthening of our position in the employee benefits market. We will be more effective in facing the challenges posed by the market and we will reinforce our capacity to serve our clients.”
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Generali CEO of employee benefits Sergio di Caro stated: “The opening of the new branch of Generali in Luxembourg, solely dedicated to EB, highlights the strategic importance of this line of business for the Group.
“This fact, together with the ongoing initiatives in the fields of customer segmentation, product offering and technology, forms part of a wider development plan aiming at strengthening our leading position in the international EB market and improving the service to our customers.”