Generali Group and Swiss Life Global Solutions have entered into a long-term commercial partnership and a binding commitment for the acquisition of Swiss Life Network (SLN) by Generali Employee Benefits (GEB) Network. The transaction will establish what the companies describe as the global number-one employee benefits network, managing more than €3 billion in premiums. The combined entity aims to set new standards in service and innovation for multinational clients and their employees worldwide. The partnership will merge the strengths and complementary profiles of the GEB and Swiss Life networks. According to the firms, the move will create synergies across product offerings including protection and pension, multinational pooling, and reinsurance to captive. It also combines their geographical footprints, client segments, and commercial and technical capabilities. Ludovic Bayard, currently CEO of GEB Network, will lead the new combined network. The unit will be part of Generali Care, the global B2B2C/E partnerships arm of the Generali Group, reporting to Antoine Parisi. Frederik Van Den Eede, chief commercial officer at GEB, and Michael Hansen, CEO of Swiss Life Network, will jointly lead the commercial area to ensure a transition for clients and partners. GEB will also welcome Swiss Life Network employees into its teams once the transaction is closed. Bayard says: “The new platform marks a major milestone in strengthening Generali's employee benefits business. By combining our well-established network with Swiss Life Global Solutions' expertise and excellent partner relationships, Generali becomes the go-to partner for international corporations and employees worldwide. Together, we will deliver best in class protection and pension solutions, enhanced by advanced digital services that promote employee wellbeing and drive sustainable business performance”. Theo Iaponas, CEO of Swiss Life International, comments: “By contributing our expertise and excellent partner and client relationships to the well-established network and reinsurance and captive business capabilities of Generali, this creates a unique value proposition as a 'Network of Choice' for multinational clients”. Hansen adds: “By uniting the best captive and most flexible pooling solutions we will provide our network partners and clients with a true one-stop-shop experience, bringing together fresh perspectives and ideas through a diverse and inclusive global team a further strengthened network offering”.
