Italian insurance giant Generali has launched a new business unit designed to offer pension risk transfer solutions to multi-national corporations, called Generali Global Pension (GGP). Generali said the unit will aim to accompany corporations in their de-risking journey and cross-border plans, providing a range of services for both plan sponsors and employees. The move will allow Generali to move into the pension de-risking space, in which it could now become a large player if it wanted to. The global pension market manages approximately $38.1 trillion and is increasing by 3.5% annually, offering high-growth potential for investments, innovation and services. GGP will also promote Generali’s asset-management platform by creating a new distribution channel and inspiring ESG and long-term investment expertise, the company said, and reinforces the Generali Employee Benefits’ (GEB) global leadership by completing their solutions with pension. The unit will be led by Anne de Lanversin, who has more than 25 years of experience in Asset Management, Employee Benefits & Insurance. Its offerings will include long-term and ESG asset-management expertise, multi-boutique platform funds, cross-border vehicle, new generation of Defined Contributions (DC) and selective risk transfer. “This is an important step that will bring additional revenue to the Group, and unite both local and global entities around pension development,” said Jean-Laurent Granier, Country Manager for France with responsibility for Europ Assistance Group. “GGP has been conceived to address evolving retirement needs. We aim to provide innovative and modern solutions by leveraging Generali’s vast expertise in insurance and investment, thereby creating sustainable offers and value,” he continued. “Our strategic business partnerships with leading technology and service providers will also support us in staying agile in anticipating and adapting to our clients’ needs.”
GGP has started a business unit that will provide pension risk transfer solutions for multinational corporations. GGP Global Pension (Generali) is led by veteran Anne de Lanversin and will attempt to offer services for both plan sponsors and employees as companies work out de-risking and cross-border plans. The division’s clients can also benefit from long-term and ESG asset-management knowledge, defined contributions, multi-boutique platform funds and selective risk transfer. The Italian insurer said Generali should bring in additional revenue for the company as it uses its expertise in the industry to keep up with changing pension and retirement needs.