Unipol reorganises insurance operations

Italy-based Unipol group said on June 30 that it is reorganising its insurance operations in order to enable the implementation of an integrated multichannel offering model.

As part of the plan, Unipol group is transferring insurance units to its subsidiary UnipolSai Assicurazioni.

A 98.53 percent stake in health insurer Unisalute valued at €715 million as well as non-life insurance provider Compagnia Assicuratrice Linear valued at €160 million, are being transferred to UnipolSai Assicurazioni. In addition, a 63.39 percent stake in Arca Vita may also be transferred to UnipolSai in the coming months.

The transactions aim to aggregate the entire insurance business of Unipol Gruppo under the control of UnipolSai, increasing the coherence and effectiveness in the governance and coordination of all organizational and operational aspects of the insurance business, according to the statement.

Furthermore, the transaction will allow the group to implement an integrated multichannel offering model, designed to take into account the ever-changing evolution of both consumer behaviour and needs.