Generali To Merge Two Guernsey Companies

Generali Worldwide Insurance Company and its wholly owned subsidiary Generali International will merge to capitalise on the globally expanding expat market.

Following the amalgamation of the two Guernsey-based companies, which is subject to regulatory consent and is expected to be completed by the end of the year, the new company will retain the name Generali Worldwide Insurance Company and have combined assets of over €5 billion (£3.6 billion, $5.3 billion).

The new company will look to capitalise on the increasing number of internationally mobile individuals and global employers by strengthening the two firm's existing ties and utilising the full assets of the wider Generali Group, one of the world's largest insurance providers.