"By partnering with Unum, we’re significantly strengthening our position in the UK, in the international employee benefits arena, and in our commitment to delivering innovative solutions."
- Ludovic Bayard, CEO of GEB
In an attempt to widen its reach across UK workplaces, Unum has acquired the renewal rights for Generali UK’s employee benefits business across its group risk products.
Following a robust selection process, Unum will join the Generali Employee Benefits (GEB) Network (with immediate effect) to jointly provide UK employee benefits to global employers. Unum will expand its operations and administer Generali UK’s existing group risk policies and claims to ensure continuity of service.
Unum’s distribution will begin once terms have been accepted before or at the policyholder’s next rate review. Both parties will seek approval under Part VII of the Financial Services & Markets Act 2000 for transfer of the remaining Generali UK group risk policies and claims.
The above is subject to regulatory approvals at the appropriate stages.
“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,” said Mark Till, CEO of Unum UK.
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. Unum’s expertise and reputation in workplace health & protection, combined with GEB’s global reach in employee benefits, signals the start of an exciting partnership.
“By partnering with Unum, we’re significantly strengthening our position in the UK, in the international employee benefits arena, and in our commitment to delivering innovative solutions.”
