May 23, 2025
Willkie advised Generali on the sale of the renewal rights to its UK Employee Benefits business to specialist employee benefits provider Unum, and on long-term arrangements that will see Unum join the global ‘Generali Employee Benefits (GEB) Network.’
The transaction establishes a strategic partnership between Generali and Unum in the UK, solidifying Generali’s leading position in the market. Generali has agreed to introduce its customers to Unum and to migrate their policies to Unum over the course of the next few years, as those policies come up for renewal. Generali and Unum will also seek approval under Part VII of Financial Services and Markets Act 2000 to transfer the remaining Generali UK Employee Benefits policies and claims to Unum. The introductions, closing of the renewal rights transaction and Part VII transfer are subject to regulatory approvals and other customary conditions.
Generali is one of the largest integrated insurance and asset management groups worldwide.
