Results from the first year confirm benefits of the newly arrived Generali Multi Plan product (GMP) for international Small and Medium-sized Enterprises (SMEs) and its positive performance across geographies.
GMP is a multi-employer pooling solution launched by GEB in 2013 to offer international SMEs the advantages of Generali’s multinational pooling in managing their risks and internationalisation process. Combining the experience of different multinational employers into one large pool, the GMP enables SMEs to benefit from a larger portfolio, with increased risk diversification and greater stability over the years, and from a combined profit sharing.
If the overall experience of the plan portfolio is positive, an international pooling dividend will be redistributed to the companies’ Head Office on the basis of the positive results of their country subsidiaries. If the overall experience of the plan portfolio is negative, no dividend will be paid and the losses will be absorbed by Generali (Full Stop Loss system).
The first experience year for the new GMP product closed with extremely good results. The breakdown by line of risk is still slightly weighted towards the medical cover, but we expect this to be readjusted as the portfolio grows. In terms of geographical distribution, all the three main macro regions (Europe, Americas and Asia) are equally represented, with a slight prevalence of Asia.
In experience year 2014 GEB anticipates a sizable increase of the portfolio size, due to a significant number of new clients joining the GMP portfolio. SMEs with subsidiaries in at least two countries are eligible for Generali Multi Plan, which will provide them with a single point of contact to access GEB Network, with insurers in more than 100 countries, its experience and global expertise.
GMP proves GEB’s commitment, as a leading network in international employee benefits, to service innovation and flexible solutions to serve multinational clients according to their size, potential and risk appetite.
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