Strategic cooperation of Generali with 4Life Direct in Poland
21 July 2020
Generali begins a strategic cooperation with 4Life Direct. The cooperation is two-fold: 4Life Direct becomes the agent of Generali in Poland and further, the cooperation includes a proposal for holders of over eighty thousand Polish policies from the company's partner from Gibraltar - Red Sands Life Assurance Company (Europe) Limited – to come under the wings of the Venetian lion.
Last week, a court in Gibraltar gave direction in relation to the proposed portfolio transfer of Red Sands Polish policyholders - which offers insurance in Poland through 4Life Direct - to Generali. After obtaining the necessary regulatory and anti-trust approvals and conducting a legal process through the Gibraltar Supreme Court, holders of over eighty thousand Red Sands policies will become Generali’s clients.
Maciej Fedyna, CEO of Generali Poland, said: “We are proud that we will be able to provide existing Red Sands customers with lion protection, becoming their lifetime partner. Being close to them, we can and will provide them with all necessary assistance. I am glad that Red Sands has chosen Generali to provide customers with the support of an entity operating in Poland for over 20 years. At the same time, I am glad that we have gained 4Life Direct as our partner - a company that has experience of how to reach customers with life insurance offers. I believe that together we will develop life insurance to the best in order to meet the needs of customers.”
This is the beginning of Generali's strategic cooperation with 4Life Direct company, which also becomes the agent of Generali in Poland. This means that it already offers Generali Życie TU SA policies to its customers.
4Life Direct Sp. z o.o. is part of 4Life International Group. The group is seated in London and is present on five markets in Europe: Polish, Czech, Slovak, Hungarian and Greek. It has been operating on the Polish market since 2009.
The Red Sands Life Assurance Company (Europe) Limited is part of the Red Sands group, which currently has over one million customers across Europe. Red Sands Life Assurance Company (Europe) Limited, based in Gibraltar, is notified by the Polish Financial Supervision Authority in accordance with relevant European insurance regulations.