IBOS member UniCredit has announced that it has signed two exclusive strategic partnership agreements with Allianz and Generali in Central Eastern Europe (CEE) – the “Partners”.
The partnership will involve the distribution of insurance products for individuals and small businesses in Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia.
The long term partnerships, which combine UniCredit’s strong business franchise in the region with the partners’ deep insurance expertise, will gradually be implemented, in compliance with all local regulations, in the second half of 2018. This will predominantly be focused on the Life and Non-Life products with Allianz and on the CPI (Credit Protection Insurance) products with Generali.
The partnerships will strengthen UniCredit’s current activities in the CEE Bancassurance business. Moreover, they are expected to generate synergies thanks to an enhanced and unique commercial strategy, offering a broadened product range for UniCredit’s clients in a region with strong growth potential.
UniCredit has recently streamlined its Bancassurance business in CEE with the creation of the CEE Bancassurance Business Area, led by Arcangelo M. Vassallo, who reports directly to Carlo Vivaldi, Head of CEE Division.
For UniCredit, UniCredit CEE Corporate Finance Advisory and KPMG Corporate Finance were jointly financial advisors.
Read the full press release via UniCredit here.