Corporate Solutions Global insight, local tailored solutions

Transcription

1 Corporate Solutions Global insight, local tailored solutions

2 A local provider with a global brand

3 Contents Page Employee benefits 1 A company you can trust 2 Retirement and savings solutions 4 Corporate life and disability solutions 7 Take the next step 8

4 Employee benefits Looking after those that matter Employees are vital resources of any company and so it is well accepted and makes commercial sense for employers to maximise and protect them as best as possible. This can be achieved by providing the facilities to help their employees save for a comfortable retirement, and to offer the comfort of protection for employees and their families against a range of risks. Importantly, all of this needs to be achieved cost effectively. 1 Generali Worldwide Insurance Company Limited, through the provision of both corporate retirement and savings solutions and corporate life and disability solutions, provides companies with a range of valuable benefits for their employees. These plans are tailored to provide the appropriate type of structure and benefits to suit the needs of both the employer and the employee. Generali Worldwide is a specialist provider of employee benefits products and services. Being a local employer based in Guernsey, it understands the particular needs of island companies and is ideally placed to give those with foresight the opportunity to gain an advantage in an increasingly competitive employment market that exists within the Islands.

5 A company you can trust Generali Worldwide is a wholly owned subsidiary of Assicurazioni Generali S.p.A. and, therefore, part of the Generali Group. For nearly two centuries the Generali Group has been a leading global provider of insurance and financial services. Generali is a name that has become synonymous with security and reliability for millions of clients. The Generali Group has a truly global presence operating in more than 60 markets covering five continents. As one of the world s top 40 companies*, the Generali Group offers the strength and experience needed for financial peace of mind. Take a look at the facts and figures we think they speak for themselves: The Generali Group is one of the top 5 insurers in the world*. The Group has assets under management of over 470 billion**. The Group s financial strength and solidity is reflected in the independent financial ratings that key agencies assign to the Generali Group.** Both strength and expertise are evident not only in the product range available but also in the services offered. Generali Worldwide s products reflect the nature of the individuals and companies it serves, whilst its services are delivered locally by experienced executives and professional staff from a wide range of disciplines. Generali Worldwide has been present in Guernsey for over two decades and specialises in providing insurance-based employee benefits solutions to both local and international companies. * 2011 Fortune Global 500, based on 2010 revenues ** For up-to-date information and key facts and figures, please refer to 4 2

6 3

7 Retirement and savings solutions In today s fast-moving and uncertain world, it is important for employers to help their employees to save throughout their working lives and to make provision for a comfortable retirement. After all, these needs are invariably the most important concerns in financial planning for any individual. With this in mind, Generali Worldwide recognises that it has become essential for forward-thinking companies to provide flexible retirement and savings solutions that can give them the edge in a competitive employment market. Generali Worldwide specialises in the provision of corporate retirement and savings plans that can be tailored to a company and their individual employee s requirements. It continuously strives to lead the market through service enhancements to help both employers and their employees manage their future savings, while minimising any administration that may be involved. The benefits: A range of high quality investment fund options to choose from, including unit-linked funds, the guaranteed return Deposit Administration fund and Lifecycle Strategies. Online support through a secure Service Centre and smart technology. Built-in annuity options for guaranteed income in retirement. Types of plans available Defined Contribution Plans, also known as money purchase plans, are company retirement and savings plans that have a variable retirement benefit based on the contributions paid into the plan each year and the performance of the investment options chosen. The investment risk / benefit is wholly borne by the employee and, therefore, the employer s liability is fixed to the agreed contribution rates. Island Trust The Island Trust is an occupational pension plan approved by the tax authorities in Guernsey and Jersey and can be offered as one plan across both Islands. This plan is a trust arrangement, which has been developed by Generali Worldwide along with a local independent Guernsey trust company, Legis Trust Limited. Its objective is to provide a cost effective corporate pension plan for any size of companies in the Channel Islands, with one of the largest insurers in Europe, but at a competitive price. Customised Plan The Customised Plan provides a flexible retirement and savings plan solution, where the employer can select a trustee of their choice or, alternatively, Generali Worldwide can provide one from a panel of companies. This plan can be tailor-made to the company s specification, where the employer can set the rules and define the desired benefits, as necessary, within the regulation limits. The plan can also be structured to incorporate multi-entities, whether subsidiary companies or different island offices, and the fees will be distributed as required. This plan design is most suited to medium / large organisations or small high-value plans. Defined Benefit Plans, also known as final salary schemes, are also available and are company-sponsored retirement plans that have a guaranteed retirement benefit based on the final salary and length of service of an employee and in which the employer bears the investment risk. Investment choice Individuals within a corporate retirement and savings plan will invariably have a variety of investment profiles according to their personal circumstances and attitude to risk. Using a combination of the investment options available, Generali Worldwide gives employees the opportunity to develop an underlying portfolio to adapt to their diverse and changing needs. The performance of any plan can only be as good as its underlying investments. Generali Worldwide offers a choice of funds managed by both the Generali Group and some of the world s most reputable investment managers, while also offering different types of funds to cover the various needs within a plan, to help employees reach their desired goals. 4

8 Retirement and savings solutions (cont.) Deposit Administration Fund This fund is a popular choice for employers and employees as it offers the advantages of capital protection, combined with a guaranteed minimum interest return, that provide an excellent foundation for effective retirement and savings planning. Unit-linked Self Select Range of Funds A number of managed funds are on offer encompassing a variety of risk profiles. These provide a wide range of investment options, covering the main asset classes and risk ratings. Fund managers are chosen for their experience and expertise in the markets that they cover. Lifecycle Strategies For those employees that do not wish and / or have the time to actively manage their portfolio for retirement, Generali Worldwide has developed specific retirement asset allocation models, based on historic return criteria and on different levels of investors risk tolerance. This will involve a simple two-step approach for employees. All they will need to do is select the date that they will want their retirement funds and choose the risk profile that suits them best. Generali Worldwide will then automatically adjust the investment profile, between the asset classes, the closer the investor gets to retirement. Own Funds Own funds are available to companies that sponsor more substantial retirement benefits plans. Companies that have the critical mass to justify their own fund can enjoy even greater flexibility and control over the investment management aspects of the plan. To find out more about the funds currently available, please visit our website 5

9 6

10 Corporate life and disability solutions Generali Worldwide provides a range of corporate life and disability solutions that can offer real support for employees and their families in the event of an accident, ill health or death of an employee while employed by the company. Employers, who understand the benefit of providing security for employees and their dependants, will find these solutions can provide an excellent foundation to supply a comprehensive range of additional benefits. The flexible nature of the solutions on offer allows employers to select the most appropriate benefits from the range of covers available based on an employee s personal circumstances. This provides the opportunity for employers to ensure that both their employees and their dependants will be looked after. The range of covers available can be written separately or in conjunction with retirement and savings plans. The following covers are available with maximum flexibility and efficient administration: Group Life This core product makes provisions for the dependants of those who die in service. It provides employees with the comfort of knowing that, should they die while they are an employee of the company, their dependants and loved ones will at least be spared financial hardship in what are naturally difficult times. Spouse s and Children s Pension Makes provisions for an employee s spouse and children in the event of the employee s death. Orphan s Pension may also be offered. Accidental Death & Dismemberment Makes provisions for dependants of those who die or are dismembered, while employed by the company, as a result of an accident. Long Term Disability (Permanent Health Insurance) Makes provisions for an employee should they suffer a long period of incapacity due to sickness or accident. This type of contract provides an important benefit to employees who are disabled for a significant period and may never be able to return to work. Waiver of Premium This can be purchased to provide continuation of life coverage or payment of pension contributions in the event of longterm disability. Total & Permanent Disability Provides a lump sum payment for an employee in the event that they are totally, permanently and irreversibly disabled. Critical Illness Provides lump sum payment for an employee should they be diagnosed with a specific disease / condition. More information on these covers, their benefits and their structures is available on request or on 7

11 Take the next step This brochure is designed to provide an introduction to Generali Worldwide s corporate solutions. To understand the breadth of the benefits offered, please contact a Generali Worldwide consultant or the Head Office in Guernsey. Our contact details: Generali Worldwide Insurance Company Limited PO Box 613 Generali House Hirzel Street St Peter Port Guernsey Channel Islands GY1 4PA Telephone: +44 (0) Fax: +44 (0) sales@generali-guernsey.com 8

12 Generali Worldwide Insurance Company Limited Registered Office address: Generali House, Hirzel Street, St Peter Port, Guernsey, Channel Islands GY1 4PA Company Registration No Tel: +44 (0) Fax: +44 (0) Licensed under the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended) and regulated by the Guernsey Financial Services Commission. Generali Worldwide Insurance Company Limited is part of the Generali Group, listed in the Italian Insurance Group Register under number GW DOM CORP BRO 02/12