Generali and UniCredit: Strategic
bancassurance partnership in CEE
05 June 2018 - 11:00
- Generali’s proven expertise and high quality insurance solutions to support UniCredit customers in Central and Eastern Europe
- Strengthening even further Generali´s position as one of the biggest insurers in the CEE market
Milan - Generali CEE Holding B.V. and UniCredit have signed a cooperation agreement for the distribution of insurance solutions in Central and Eastern Europe. With this agreement, which will gradually start - in compliance with all local regulations - in the second half of 2018, UniCredit customers will benefit from Generali’s proven expertise and high quality services.
Generali will be the exclusive insurance partner for the distribution of Credit Protection Insurance (CPI) in the Czech Republic, Croatia, Hungary, Romania, Serbia, Slovenia, Slovakia as well as Bosnia and Herzegovina; in Serbia the cooperation will include also life and non-life insurance products. Generali will be a preferred partner for the distribution of leasing insurance products in the Czech Republic, Bulgaria, Hungary, Romania, Serbia, Slovenia, Slovakia as well as Bosnia and Herzegovina.
The long term partnership combines UniCredit’s strong banking franchise with Generali’s deep insurance expertise. UniCredit clients will have easy access to Generali’s products through UniCredit’s branch network and digital platforms.
Luciano Cirinà, Austria, CEE & Russia Regional Officer and CEO of Generali CEE Holding stated: “In our region more than 12.5 million customers rely on Generali’s strength and support in various phases of their lives when they are in need of a reliable insurance partner. We are the pioneers in the market and one of the biggest insurers in this region and we are proud to support Unicredit’s clients with very special and proven insurance solutions.”
Carlo Vivaldi, Head of CEE Division at UniCredit commented: “This partnership will enhance our offering by delivering a full range of insurance products as well as outstanding services to our individual and small business clients leveraging our leading position in the region as well as the recognised brand of Generali.”
This bancassurance partnership is another important step forward in Generali’s successful journey of growth and investment in the CEE Region. Generali has recently further improved its footprint and strengthened its market position through major acquisitions in Slovenia (Adriatic Slovenica) and Poland (Concordia).
Barclays Bank plc acted as exclusive financial advisor and Linklaters as sole legal advisor to Generali CEE Holding on the transaction.