Oman Insurance Company and Generali Global Pension have teamed up provide a group savings and retirement insurance plan specific to the needs of UAE companies.
Named GO Saver, this plan aims at supporting employers to manage their End of Service Gratuity (EoSG) liability with 100% capital protection option.
With an option to avail 100% capital protection, the new insurance plan offers flexibility for contribution, option to investment in different schemes as well as online access to investment portfolio among others.
This win-win proposition for everyone provides a capital protected solution along with access to a wide array of global and local investment solutions"
Jean-Louis Laurent Josi, CEO of Oman Insurance said: "We have worked very closely with the Generali team to develop a unique proposition which gives employers an option to manage their End of Service Gratuity liability with a funded workplace savings insurance plan.
"Our collaboration addresses a real growing need in the region for a solution that is secured yet evolves with the employee savings needs and employer retention objectives."
The plan ensures easy voluntary contributions by offering flexible payment methods, complimentary switches, profit booking, withdrawal and top ups. Also, the insurance product enables users to continue with their plan even when they relocate to another country and get the fund in the new country.
Anne De Lanversin, CEO of Generali Global Pensions added: "Through this partnership, we as reinsurer and pension specialist, present Generali's best global solutions and expertise to the UAE, combined with the Oman Insurance's deep knowledge of local market.
"This win-win proposition for everyone provides a capital protected solution along with access to a wide array of global and local investment solutions. I am confident of the quality and value GO Saver offers to our clients in the UAE market."