Unum has acquired the renewal rights for Generali UK’s employee benefits business across its group risk products as part of business expansion plans.
The provider has also joined the global Generali Employee Benefits (GEB) Network, which means it will jointly provide UK employee benefits solutions to global employers.
Under the deal, Unum will administer Generali UK’s employee benefits existing policies and claims to ensure continuity of service and relationship management for customers. As part of the change, Unum will expand its operations and will welcome the experienced Generali UK employee benefits’ team into its ranks.
Mark Till, CEO of Unum UK, said: “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.”
Ludovic Bayard, CEO of GEB, added: “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 employee benefits business arena, and in our commitment to delivering best-in-class and innovative solutions to our captives and multinational clients.”
