Unicredit has signed two agreements with Allianz and Generali which provide for the distribution of insurance products for individuals and small and medium-sized enterprises in Eastern Europe and more precisely in Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia.
Both partnerships will be gradually implemented - in compliance with the relevant local regulations - in the second half of 2018, and will be mainly focused on Life and Non-Life products with Allianz and on CPI (Credit Protection Insurance) products with Generali.
“The partnerships – reports the bank in a note – will strengthen UniCredit's current activities in the Bancassurance business in CEE; moreover they are expected to generate synergies thanks to a strengthened and unique commercial strategy, offering an expanded product range for UniCredit clients in a region with strong growth potential”.
“These partnerships will enhance our offering through a full range of premium insurance products and services for our individual and small and medium-sized business clients, leveraging our leadership position in the region as well as recognized brands such as Allianz and Generali” – commented Carlo Vivaldi, head of the CEE Division at Unicredit.
“Unicredit's clients will benefit from our extensive experience as demand increases for Life, Health and P&C in CEE. We can now protect these customers at key moments in their lives,” said Petros Papanikolaou, Regional CEO CEE of Allianz SE. “UniCredit and Allianz share a commitment to continue growing in CEE. We are delighted that UniCredit has chosen Allianz as the best solution provider for its clients, and we see this partnership as a confirmation of our successful strategy in CEE.”
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 the strength and support of Generali in the various phases of their lives where they need from a reliable insurance partner. We are the pioneer in the market and one of the largest insurers in the region and we are proud to support UniCredit clients with very special and proven insurance solutions.”
