Generali Employee Benefits partners with Unum to strengthen UK presence and enhance global reach

Generali Employee Benefits (GEB) Network has announced a new strategic partnership in the UK. Following a thorough and comprehensive selection process, Unum has secured the renewal rights of Generali UK’s employee benefits business, encompassing its group risk products. The deal is subject to regulatory approvals at the appropriate stages.

Unum, which is also welcoming the Generali UK branch employee benefits team, will administer Generali UK Employee Benefits’ in-force policies and claims to ensure continuity of service, relationship management, and a seamless transition for all customers.

GEB said that through this partnership, it aims to solidify its position in the market, by serving its multinational clients, their employees, and consulting partners with a comprehensive range of solutions, exceptional service, and innovative approaches.

Unum’s expertise and reputation in workplace health and protection, combined with GEB’s global reach in employee benefits, signals the start of an exciting partnership for the two companies, GEB said in a statement.

Ludovic Bayard, chief executive of GEB Network, stated: “Welcoming Unum into the GEB Network reflects our strategic ambition and unwavering dedication to sustainable growth and operational excellence. Both Unum and GEB value long-term partnerships built on integrity and mutual trust and share a relentless focus to “Deliver on the Promise”, one of Generali’s key Values centred around improving lives. 

“By partnering with Unum, a leading employee benefits provider in the UK market, we are significantly strengthening our position in the UK, in the International EB business arena and in our commitment to delivering best-in-class and innovative solutions to our captives and multinational clients.”

Mark Till, chief executive of Unum UK, commented: “This acquisition, combined with the expansion of our operations, strengthens our commitment to delivering high-quality workplace protection benefits and exceptional customer experiences.

“We're proud to already protect millions of individuals across the UK, and we’re looking forward to working in partnership with GEB to extend our products and services to even more people.”

Unum becomes part of the GEB Network with immediate effect. Generali UK Group Risk policies will commence with Unum once terms have been accepted before or at the policyholder’s next rate review. GEB and Unum will seek approval under Part VII of the Financial Services and Markets Act 2000 for transfer of the remaining Generali UK EB policies and claims.

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