Oliver Bäte, Chief Executive Officer of Allianz SE (on the left) and Andrea Orcel, Group Chief Executive Officer and Head of Italy of UniCredit (on the right)
Photo credit: Erik Mosoni
UniCredit and Allianz signed a multi-country Framework Agreement, setting the tone for enhanced collaboration which benefits clients of both companies. This agreement builds on the companies’ long-standing and highly successful partnership, which first started in 1996. It has also paved the way for deeper cooperation between the two groups in the insure-banking business, namely in Italy, Germany, Central and Eastern Europe, where UniCredit proudly serves over 15 million clients and Allianz Group serves over 30 million clients.
Protection and Investment are two strongly linked areas that are crucial for our bank’s strategy. At UniCredit, we protect our clients during the most important times in their lives. As their partner, we support them with the management of their assets, guiding them and providing tangible answers to their needs. This is the direction we moved in, both for Italy and other countries in our Group, when we recently strengthened the partnership agreement with Allianz. The agreement will help to generate even more value through an integrated approach, by leveraging the excellent service from Allianz and complementing this with UniCredit’s offering.
This agreement 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 maximise the benefits of all future partnerships.
Group Chief Executive Officer and Head of Italy of UniCredit
This agreement, which marked a remarkable step forward in the execution of our strategic plan, was a testament to what can be created through a strong and effective partnership. It consolidated best-in-class product offerings, innovation, and technological integration for the mutual benefit of our respective clients, further underscoring our commitment to this sector. It is a blueprint for how we intend to streamline our joint ventures and maximise the benefits of all future partnerships.
We understand our clients and their needs. We are committed to meeting those needs. Now, through this new, strengthened partnership agreement, we can offer not only an integrated approach with Allianz, but broader and better solutions than ever before.
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.
Chief Executive Officer of Allianz SE
A conversation with...
Andrea Orcel, Group Chief Executive Officer and Head of Italy of UniCredit, and Oliver Bäte, Chief Executive Officer of Allianz SE
To you, what does this partnership mean for UniCredit?
Photo credit: Erik Mosoni
ANDREA: Our work with Allianz is a real partnership, and a truly joint venture. Allianz now offers insurance solutions to our customers, and our ambition is to do the same for Allianz customers with our financing products. People may look at this as simply an agreement, but it is more than that. Even more, this partnership is especially significant as Allianz and UniCredit have a perfect overlap of target markets: Italy, Germany and Eastern Europe are core areas of focus for us both.
Why was this important for Allianz’s agenda and commitments?
OLIVER: Particularly at a time like this, where everything is changing rapidly, where people and businesses have to navigate factors like inflation and volatility, we have to be ready to help our customers with quality products, simplified delivery, and expert service. This partnership helps us elevate our offering and strengthen our strategic footprint. In Italy, we are in the top 5 in life insurance market share, and first for customer satisfaction. This is because we focus on having the best-in-class products on our shelves. Like UniCredit, we keep the client at the centre of everything we do. We both are focused on outcomes – on simplifying and making life easier for our customers.
Why are you particularly proud to have worked on this initiative?
OLIVER: In a broad sense, this partnership allowed us to deepen our roots in Italy, which is a very important country within Allianz Group. I’m proud that we are building on our strong ties and doing more there. Alongside UniCredit, we intend to further improve the quality of service and offering to customers – building on our highly successful bancassurance partnership. We were delighted to deepen our successful partnership with the UniCredit Group, and I look forward to securing the futures of our joint customers with our world-class products and services.
Photo credit: Erik Mosoni
Why was this partnership important for UniCredit?
ANDREA: Collectively, we have millions of customers. This partnership was especially important as it set the basis for enhanced collaboration – joining together best-in-class product offerings, innovation, and technological integration for the benefit of our respective clients. It was a blueprint for how we intend to streamline our joint ventures. UniCredit and Allianz have enjoyed a good relationship for many years, and we were pleased to further enhance this partnership.