The move is one of several key recent and forthcoming developments for the Guernsey-domiciled business. These include the approval of Generali International’s regular premium savings product, Vision, for distribution in Dubai through the licence of its parent company, Italian insurance giant Assicurazioni Generali.
In an interview with International Adviser (see pages 22-23 of February’s edition), Debbie Le Noury, head of Generali International, said the company hopes to further expand global distribution, primarily through joint ventures in locations where the parent company already has an authorised presence.
Le Noury has also revealed that product development is on the agenda in 2011 with the redevelopment of Generali International’s Professional Portfolio bond scheduled for re-launch in June.
The product upgrade will include enhanced online capability, such as fund switching, and more flexible charging structures. A new regular savings product is also planned, based on the existing Vision product.
Le Noury said the idea was to learn from research commissioned last year by the Association of
International Life Offices into product charging structures. The study broadly found that offshore advisers were open to taking less upfront commission on products in exchange for higher trail payments.
