26 August 2014

Generali appoints GEB head

Italian insurer Generali has appointed Sergio Di Caro as head of Generali Employee Benefits Network (GEB), the insurer’s corporate employee benefits business.

This appointment is part of Generali’s strategy to enhance GEB's leadership position in a segment with significant margins of further development, to represent and to expand its presence for Generali’s future growth.

Di Caro is currently in charge of Generali Asia regional office and will take up his new position in January 2015.

Di Caro set up GEB operations in Asia, launched several Generali’s insurance joint-ventures in the region, in particular in China, and restructured the Hong Kong business.

Mario Greco, Generali Group chief executive officer, said: “We are close to completing in advance our three-year turnaround plan and, entering in a new phase for the Group, where we are able to seize opportunities for business growth and in delivering profits and good returns. The employee benefits market is very important for the Group and we want to increase our market position particularly in the high growth areas, such as Asia.

“This is one of a number of steps we will be taking to further invest in the development of our insurance operations in the region and to consolidate our position in key markets as China and we expect to announce a new head for the Asian region in the near future".

Paolo Vagnone, head of global business lines at Generali, said: “I am very pleased to welcome Sergio as the new leader of GEB and I am sure that he will add value to our global employee benefits operations.

“He started his career in this business and he is a manager with a deep knowledge of high-growing markets, where he has been working for more than 20 years and where we want to grow. Our aim is to enhance GEB competitiveness, transform it into a centre of excellence of our Group and also develop the business in new segments such as the corporate pension plans."

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