Unicredit, Orcel brings together insurance partnerships for Italy in view of the industrial plan
Rationalization and simplification: le insurance partnerships from Unicredit, led by CEO Andrea Orcel, will follow this logic. This was announced by the business newspaper The sun 24 hours. According to the newspaper, the institute “is about to close the reorganization of the joint venture close with i French Cnp Assurances “. The first step should arrive within the next week and not far from the presentation of the new one industrial plan of December 9. This is the “closing of the deal which provides for the formal substitution of Cnp from Avivaa in Aviva Vita, a joint venture in which Gae Aulenti has 49% with Cnp at 51%”.
The plan follows the principles of “maximum simplification” and “rationalization” of the partnerships, especially when the counterpart coincides. Next to Cnp, Unicredit in Italy operates with the German company Allianz (CreditRas, 50%) and the Italian Unipol (Meet insurance companies, 51% Unipol). A jungle of exclusive distribution agreements also dense abroad.
The second front, according to reports from the Sole 24 Ore, concerns the sale of non-performing loans: the sale of two portfolios of gross NPLs of 250 and 200 million euros. Also, one is scheduled maxi securitization of 1.7 billion of Euro. By adding together the three transactions, UniCredit is thus preparing to achieve the objective of completely divesting the so-called “non-core” portfolio, equal to 2.7 billion, by the end of 2021.
#Unicredit #Orcel #gathers #Life #policies #maxi #joint #venture #Cnp #ready