The UNIQA Group is extending and strengthening its cooperation with the Italian Veneto Banca Group in the sale of insurance policies 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 in this company 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 still requires the approval of the competent regulatory authorities.

Dr. Konstantin Klien, CEO of UNIQA Versicherungen AG: "Through this transaction, UNIQA will expand on the very successful cooperation with Veneto Banca in Italy and further strengthen it in the future. We have been working closely with Veneto Banca in the area of bank assurance since the takeover of the life insurance subsidiary of Veneto Banca in the year 2004. With the current decision to take over this company, we are sending a signal that we intend to ensure continued success in the sale of insurance products via the branches of Veneto Banca. We do not intend to limit ourselves here to life insurance, an area we still consider underdeveloped in Italy, but will also increasingly apply our know-how from other insurance lines.”

UNIQA in Italy
The UNIQA Group has to date been represented in Italy by three companies that cover the entire insurance spectrum. In addition to the life insurer UNIQA Previdenza (previously Claris Vita) in Milan, there are also the health insurer UNIQA Assicurazioni, also in Milan, and the property insurer UNIQA Protezione (formerly Carnica) in Udine. The three companies have a total of 261employees and in 2008 achieved a total premium volume of EUR 477 million. Roughly EUR 330 million, or 69%, of this was in life insurance. The sales take place through free and exclusive agents, brokers and the banks of the Veneto Banca Group.

Veneto Banca Group
Organised as a cooperative popular bank, Veneto Banca Holding has in recent years further expanded its traditionally strong presence in northern Italy and spread to other regions, in the southern part of the country and the East Europe (Romania, Moldova, Croatia and Albania) as well. The banking group – in Italy and abroad – has roughly 415 bank branches and 4500 employees.