The UNIQA Group is extending and strengthening its cooperation with the Italian Veneto Banca Group in the sale of insurance polices through the bank’s branch offices. The Milan-based UNIQA subsidiary UNIQA Previdenza will still in 2009 take over 60% of the share capital of a company previously owned solely by Veneto Banca. The new rights for sales cooperation by Veneto Banca with insurance companies are now exclusively linked to this company. An expansion of UNIQA Previdenza’s stake from 60% to 90% is planned for the first quarter of 2010.

In future, UNIQA Previdenza will handle the business acquired through the traditional sales channels while the new subsidiary will focus on bank sales. The transaction is still subject to the approval of the responsible authorities.

UNIQA has been working closely and successfully with Veneto Banca in the area of bank assurance in Italy since the takeover of the life insurance subsidiary of Veneto Banca (currently UNIQA Previdenza) in the year 2004.