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Iris completes management-led buyout, exits Generali Redion platform
The deal separates Iris identity protection from Generali's newly unified Redion brand launched in May 2026.
Iris, an identity protection and cyber risk company previously branded as Iris Powered by Generali, has completed a management-led buyout from Redion Group, allowing it to operate as an independent business, according to Insurance Business.
The transaction separates Iris from Generali-owned Redion, a platform Generali revealed in May 2026 to unify its assistance, travel insurance and employee benefits businesses under a single identity.
Iris CEO Paige Schaffer called the completion a milestone moment and said the company will use its independence to pursue opportunities in the rapidly growing identity protection and cyber risk industry, while continuing to prioritize employees and clients.
Redion said it reported €5.8 billion in annual business volume for 2025 and operates in more than 190 countries with over 12,000 employees. Redion’s chief strategy and corporate development officer Olivier Carn characterized the separation as a natural divergence in strategy and said the firms plan to maintain their longstanding partnership and commercial relationship even after Iris exits the platform.