Allianz and UniCredit Expand Longstanding Multi-Country Bancassurance Agreement

January 28, 2022

Allianz and UniCredit have signed a multi-country agreement to build on the companies’ longstanding bancassurance partnership which began in 1996.

The agreement covers UniCredit’s footprint in Italy, Germany, Central and Eastern Europe, where the company serves more than 15 million clients. Allianz Group serves over 30 million clients in those countries.

The agreement allows UniCredit to offer its banking products to customers on Allianz’s open platform in Germany, Italy and other jurisdictions.

The agreement in Italy provides for the renewal of the current bancassurance arrangements, both in the life and non-life businesses, to 2027, with some potential strategic flexibility for UniCredit starting from 2024.

As part of the renewed partnership, on Feb. 10, 2022 CreditRas Vita and CreditRas Assicurazioni will be rebranded as UniCredit Allianz Vita and UniCredit Allianz Assicurazioni, respectively.

“We are delighted to continue and deepen our successful partnership with UniCredit. I look forward to securing the future of our joint customer base with world-class products and services,” said Oliver Baete, the chief executive officer of Allianz SE.

This agreement “joins together best-in-class product offerings, innovation and technological integration for the mutual benefit of our respective clients, underscoring our commitment to this sector,” said Andrea Orcel, chief executive officer of UniCredit S.p.A. “It is a blueprint for how we intend to streamline our joint ventures and maximize the benefits of all future partnerships.”

Topics Allianz

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