Sergio Di Caro appointed as Head of Generali Employee Benefits Network (GEB)

• Generali is the global leader in employee benefits. The Group to grow further seizing opportunities, in particular in Asia

Trieste – Effective January 2015, Sergio Di Caro will be the new Head of Generali Employee Benefits Network (GEB), the global market leader in Corporate employee benefits business serving more than 1,500 multinational companies in over 100 countries.

This appointment is part of Generali’s strategy to enhance GEB's leadership position in a segment with significant margins of further development, to represent and to expand its presence for Generali’s future growth.

Sergio Di Caro, 51, currently in charge of Generali Asia Regional Office, has a long track record in managerial roles within the Group and prior experience in the employee benefits business. In Asia since 1990, Di Caro set up GEB operations, launched several Generali’s insurance joint-ventures in the region, in particular in China, and restructured the Hong Kong business.

The Generali Group CEO, Mario Greco, said: “We are close to completing in advance our three-year turnaround plan and, entering in a new phase for the Group, where we are able to seize opportunities for business growth and in delivering profits and good returns. The employee benefits market is very important for the Group and we want to increase our market position  particularly in the high growth areas, such as Asia. This is one of a number of steps we will be taking to further invest in the development of our insurance operations in the region and to consolidate our position in key markets as China and we expect to announce a new head for the Asian region in the near future".

The Generali Head of Global Business Lines, Paolo Vagnone, said: “I am very pleased to welcome Sergio as the new leader of GEB and I am sure that he will add value to our global employee benefits operations. He started his career in this business and he is a manager with a deep knowledge of high-growing markets, where he has been working for more than 20 years and where we want to grow. Our aim is to enhance GEB competitiveness, transform it into a center of excellence of our Group and also develop the business in new segments such as the corporate pension plans”.

GEB, based in Brussells, is the leading network by premium in the employee benefits market, a global business with significant growth potential. GEB registered more than € 1.1 billion premiums at the end of 2013. Present in the international arena since 1966, GEB is dedicated to providing its clients with the best solutions for their employees and building long term relationship through an ongoing commitment to investment in technology, people and innovation.