UniCredit signs strategic Bancassurance partnerships with ALLIANZ and GENERALI in CEE

UniCredit announced it has signed two exclusive strategic partnership agreements with ALLIANZ and GENERALI for the distribution of insurance products for individuals and small-businesses in nine CEE markets.

The nine markets covered by the partnership agreements are Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia.

The long-term partnerships will gradually be implemented, in compliance with all local regulations, in the second half of 2018, predominantly focused on the Life and Non-Life products with ALLIANZ and on the CPI (Credit Protection Insurance) products with GENERALI, as UniCredit representatives pointed out in a statement.

"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 European network includes Italy, Germany, Austria, Russia, Turkey and the nine CEE markets covered by the partnership agreements: Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia.

ALLIANZ is active in 10 CEE markets (Austria, Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Russia, Slovakia, and Ukraine), while GENERALI operates in 12 CEE countries (Austria, Bulgaria, Croatia, the Czech Republic, Hungary, Montenegro, Poland, Romania, Russia, Serbia, Slovakia and Slovenia).

"These partnerships 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 on our leading position in the region as well as the recognized brands of ALLIANZ and GENERALI" - commented Carlo VIVALDI, Head of CEE Division at UniCredit.

"UniCredit's customers will benefit from our extensive expertise as demand rises for life, health, property and casualty insurance in CEE. We can now protect those customers at key moments in their life," said Petros PAPANIKOLAOU, Regional CEO CEE of ALLIANZ SE. "UniCredit and ALLIANZ share a commitment to continue growing in CEE. We are pleased that UniCredit has chosen ALLIANZ as best solution provider for their customers, and we view this partnership as a confirmation of our successful strategy in CEE."

Luciano CIRINA, 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."



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