Generali eyes opportunities in the Philippine marketFebruary 23 2018 by InsuranceAsia News Staff
Generali is reevaluating its focus on the Philippines to check for potential lucrative gaps in the market.
The group was previously bound by a 17-year partnership with BDO Unibank that ended in 2016 when the bank bought out its share of their joint venture.
Generali regional officer for Asia Roberto Leonardi said since then BDO has opted to run its bancassurance business alone, which gives Generali free rein in the market.
It is now starting to redevelop its Philippine business with a focus on the group life and health insurance businesses.
According to Leonardi, the BDO partnership largely focused on offering products to BDO’s customers.
Generali intends to focus on employee benefits, credit life insurance and the group life insurance market.
- September 7
Rachael Tay will lead a team of 40 staff across China, Hong Kong and Singapore.
- October 18
The Australian-owned and operated buyer is looking to add to its growing employee benefits business in South-East Asia.
- May 23
A number of foreign insurers have reportedly expressed interest in acquiring the takaful operator.
- February 13
The private equity firm outbid rivals for the benefits administration and human resources platform.