UniCredit gains full control of Italian life bancassurance business, plans merger and revenue increase.

From Yahoo Finance: 2025-06-23 05:43:00

UniCredit has completed the internalisation of its life bancassurance operations in Italy, gaining full ownership of JVs with CNP Assurances and Allianz. The JVs have been rebranded as UniCredit Life Insurance (ULI) and UniCredit Vita Assicurazioni (UVA), with CEO Alessandro Santoliquido overseeing both entities. Plans for a merger in 2026 aim to create a new life bancassurance entity in Italy, projecting a $400m increase in annual insurance revenues by FY27. The merged entity is expected to have a strong market presence in unit-linked and term life insurance segments. UniCredit plans to request recognition of the Danish Compromise once classified as a Financial Conglomerate. The non-life bancassurance business in Italy will operate through the UniCredit Allianz Assicurazioni JV.

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