Generali Announce New Building to Cater for Business Expansion

While Generali PanEurope is a relatively young organisation it plays an important role within the larger Generali Group acting as its Pan-European arm. The company has grown rapidly in recent years and expects to expand further over the coming 18 months, increasing its workforce by up to 50%.

Mr. Paul Gillett, CEO of Generali PanEurope

11 February, 2010, Navan - Generali PanEurope(GPE) and Generali International(GI) today announced that they have commissioned a new building, which will be located in the IDA Navan Business Park, Athlumney, Navan, Co. Meath overlooking the River Boyne. The new building will act as Generali PanEurope’s Headquarters and Generali International’s Irish base.

Generali, a global insurer, has had a presence in Navan since 1999. Since then its operations have grown significantly and employment has increased fivefold. Combined, Generali International and Generali PanEurope employ over 100 people in Navan. It is envisaged that the numbers employed will continue to increase over the coming years, solidifying Generali’s long term commitment to Navan and reflecting both companies’ growth plans.

Mr. Paul Gillett, CEO of Generali PanEurope commented “While Generali PanEurope is a relatively young organisation it plays an important role within the larger Generali Group acting as its Pan-European arm. The company has grown rapidly in recent years and expects to expand further over the coming 18 months, increasing its workforce by up to 50%.”

Commenting on the new building Mr. Dick Brennan, Head of Ireland Operations for Generali
International stated “Our operation in Ireland has grown rapidly in recent years and we have outgrown our existing premises in the business park. Our intention is to develop a modern state-of-the-art premises that caters for our current and future needs.”

The new two storey c2352m2 building will be located on a site adjacent to Athlumney House. The design, while contemporary, respects its setting and sits comfortably within its historic landscape. The building is U-shaped enclosing a landscaped west-facing courtyard.

It is planned that construction will commence in August 2010 for occupation by Generali within 12 months. The Project Managers and Architects, KMD Architecture, who have designed many notable landmark buildings including; Georges Quay Towers, Park Place Hatch St. and Riverside 2, will lead the design and project management team.

Complementing this development Generali PanEurope announced that it also plans to expand its European variable annuity business, located at Smithfield, Dublin, with the addition of number of senior roles.

Welcoming the announcement by Generali, IDA Ireland CEO, Barry O’Leary commented “I am delighted that IDA is in a position to facilitate Generali, a leading global insurance operation, to expand its operations in Ireland. The companies decision to deepen their commitment to Ireland is a very welcome development, and demonstrates that Foreign Direct Investment clients, through their positive experiences here, are continuing to dedicate resources ensuring their operations and employees continue to play a strategic role in global markets”.

Generali PanEurope
Generali PanEurope Limited is part of the Generali Group. The company is located in Ireland, where it was established in 1999. Generali PanEurope is a provider of sophisticated wealth management and employee benefit solutions to its European audience. Generali PanEurope markets its products on a Freedom of Services basis and is authorised by the rish Financial Regulator to transact cross-border life assurance business in the European Union. Generali PanEurope Ltd. has also recently been awarded an A- rating (outlook – stable) from Standard & Poor’s, one of the world’s leading credit rating agencies.

Generali International
Generali International Limited is also part of the Generali Group. The Company is a leading international insurance provider; its head office is set in the heart of Guernsey’s financial centre. It is an authorised insurer in Hong Kong and operates in the Far East, Latin America, the Middle East and Europe. Generali International provides modern and flexible insurance based investment solutions to a global audience, including both international expatriates and certain local resident populations.

The Generali Group
The Generali Group is one of the most significant participants in the global insurance and financial products market. The company was founded in Trieste in 1831.

• Generali is one of the leading insurance groups in Europe with a 2008 total premium income of €69 billion
• It is present in 65 countries
• It has over 60 million clients worldwide
• It has over 84,000 employees.

For further Information please contact:
Aidan Cullen
Marketing Communications Manager,
TEL: 00 353 46 90 60 241
EMAIL: aidancullen@generali-guernsey.com