UniCredit and Allianz further strengthen their partnership in Italy and abroad

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UniCredit and Allianz have signed a multi-country Framework Agreement (the “Agreement”), setting the basis for enhanced collaboration, benefiting clients of both companies and building on the companies’ longstanding and highly-successful bancassurance partnership since 1996. 

The Agreement covers UniCredit’s footprint in Italy, Germany, Central and Eastern Europe and appropriately recognizes both partners’ contribution to the value that is being created.

The Agreement encompasses joint investments (including training and pre-marketing) aimed at seamlessly integrating and accelerating the digitalization of our processes. It will also pave the way for a cooperation between the two groups in the insure-banking business, allowing UniCredit to offer its best-in-class banking products to customers on Allianz’s open platform in Germany, Italy and other jurisdictions. 

In Italy, Germany, and Central and Eastern Europe, Unicredit Group serves over 15 million clients; the Allianz Group serves over 30 million clients.

Two implementing agreements will be signed to amend and supplement the current arrangements in Italy and in Germany.

Italy:

In particular, the Italian implementing agreement will include:

  • the renewal of the current arrangements both in the life and non-life businesses to 2027, with some potential strategic flexibility for UniCredit starting from 2024;
  • full access to Allianz’s best-in-class products and the benefit of further innovation for UniCredit’s customers; 
  • additional support for UniCredit by Allianz in developing an integrated platform and service model;
  • enhancement of training and increased marketing support, aimed at further improving the quality of service and offering to customers.

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

Germany:

The German implementing agreement, subject to the fulfilment of required corporate laws formalities, will include further initiatives to strengthen digital bancassurance and marketing. These joint initiatives are set to revamp the joint commercial efforts.


Andrea Orcel
, the Chief Executive Officer of UniCredit S.p.A., said: “This agreement, which marks a step forward in the execution of our plan, is a testament to what can be created through a true, strong and effective partnership. It 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. It is a blueprint for how we intend to streamline our joint ventures and maximize the benefits of all future partnerships.”

Oliver Bäte, the Chief Executive Officer of Allianz SE, said: “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.”

The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 737 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of December 31, 2023.

About UniCredit

UniCredit is a pan-European Commercial Bank with a unique service offering in Italy, Germany, Central and Eastern Europe. Our purpose is to empower communities to progress, delivering the best-in-class for all stakeholders, unlocking the potential of our clients and our people across Europe. We serve over 15 million customers worldwide. They are at the heart of what we do in all our markets. UniCredit is organized in four core regions and two product factories, Corporate and Individual Solutions. This allows us to be close to our clients and use the scale of the entire Group for developing and offering the best products across all our markets. Digitalization and our commitment to ESG principles are key enablers for our service. They help us deliver excellence to our stakeholders and creating a sustainable future for our clients, our communities and our people.

Press contacts

Holger Klotz
Allianz SE
Kirti Pandey
Allianz SE
Johanna Oltmann
Allianz SE
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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