Generali eyes opportunities in the Philippine market

February 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.

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