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UniCredit gets green light from IVASS to bring policies in-house

Close-up of hands typing on laptop with an insurance document visible on the desk.

(Alliance News) – IVASS has given UniCredit the green light to increase its stake in CNP UniCredit Vita and UniCredit Allianz Vita to 100%, dissolving the bancassurance joint ventures.

As reported by Milano Finanza on Thursday, the EUR1.2 billion transaction will be financed in cash and completed by June.

The bank’s objective is to internalize its life insurance business in Italy, creating a single company that will manage premiums of over EUR 8.6 billion, thus retaining all profits and dividends, as already done by Intesa Sanpaolo.

The process to obtain the application of the Danish Compromise from the European Central Bank will begin after the transaction is completed, with an estimated impact of 20 basis points on the CET 1 ratio. By 2026, the merger of the two life insurance companies and possible expansion abroad are planned.

In the non-life business, however, the partnership with Allianz remains stable until 2027. In 2024, UniCredit Allianz Assicurazioni recorded premiums of EUR 420 million and a profit of EUR 42.8 million, up from 2023.

Copyright 2025 Alliance News IS Italian Service Ltd. All rights reserved.

Source: MarketScreener

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