Always here, to draw the future. Press Kit

Always here,
to draw the
future.
Press Kit
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LEADER IN NON-LIFE BUSINESS, IT IS THE SECOND INSURANCE GROUP ON
THE ITALIAN MARKET AND AMONG THE TOP TEN IN EUROPE.
The Unipol Group. A strong identity
in constant evolution.
AS ONE OF THE MAIN ITALIAN INSTITUTIONAL INVESTORS, IT MANAGES
57.7 BILLION EURO IN FINANCIAL ASSETS. IT IS LISTED ON THE ITALIAN
STOCK EXCHANGE WITH THE HOLDING COMPANY UNIPOL AND THE
SUBSIDIARY UNIPOLSAI ASSICURAZIONI.
Unipol adopts an integrated offer strategy and covers a complete range of insurance
and financial products.
At a consolidated level, the Group recorded direct insurance income amounting to
bn at 31 December 2015.
€
16,5
It is the European leader in MV black box policies with almost
%.
equal to a market share of approximately
60
3 million devices installed,
In addition to the core insurance business, it also operates in the banking, real estate,
hotel, healthcare and agricultural industries.
Accessibility, Farsightedness, Respect, Solidarity and Responsibility are the five key
values identified by the Group’s Charter of Values.
1
Numbers that tell the story
of a great Group.
The Unipol Group
Numbers that tell the story of a great Group.
KEY FIGURES (*)
TIMELINE
Direct insurance income:
1963
€16.5bn (€7.9bn from Life Business and €8.6bn in Life
Business)
Operations expand to
Life business
Customers:
over 15 million
Consolidated net profit:
1986
€579m
Unipol Assicurazioni starts
operations, after control of
the company is transferred
from Lancia to Federcoop
1969
Listed on the Stock
Exchange with
preference shares
Combined ratio:
93.9%
Listed on the Stock
Exchange with ordinary
shares
Loss ratio:
1990
66.6%
1995
Expense ratio:
27.3%
Unipol enters the
banking sector with
the acquisition
of BANEC (later
transformed into
Unipol Banca)
Consolidated shareholders’ equity:
€8.4bn
Solvency margin (Solvency I):
UniSalute is established,
followed by Linear in
1996
1998
170% of the minimum required
Distribution:
3,000 agencies and 6,000 sub-agencies, in addition to
approx.300 bank branches
2006
Employees:
Launch of corporate
restructuring for the creation
of the holding company
Unipol Gruppo Finanziario
S.p.A. (in 2007) and later UGF
Assicurazioni S.p.A. (in 2009),
resulting from the merger of
Unipol and Aurora
approx.14 thousand
Carlo Cimbri is appointed
CEO, while the acquisition
of the Arca Group is
completed
Real estate assets:
close to €4.3bn
European leader in MV black box policies:
almost 3 million devices installed (estimated market
share of 60%)
(*)
2014
Figures at 31/12/2015
3
2010
UnipolSai is created on 6
January with the merger
by incorporation of Unipol
Assicurazioni, Milano
Assicurazioni and Premafin
into Fondiaria-Sai
The Unipol Group
Numbers that tell the story of a great Group.
CORPORATE STRUCTURE(*)
The parent company, Unipol Gruppo Finanziario S.p.A., is a financial holding and services company listed on the Italian
Stock Exchange. Pierluigi Stefanini is Chairman, while Carlo Cimbri holds the office of Managing Director and Group CEO.
UnipolSai Assicurazioni S.p.A., operative since 6 January 2014, is also listed on the Italian Stock Exchange.
100%
98.53%
65.18%
57.75%
63.39%
42.25%
98.12%
50%
100%
(*)
Figures at 31/07/2016
MAIN SHAREHOLDERS
Coop Alleanza 3.0 Soc. Coop. 9.61%
Finsoe S.p.A. 31.40%
Nova Coop s.c. a r.l. 4.07%
Other 54.92%
4
Popolare Vita S.p.A.
The Unipol Group
Numbers that tell the story of a great Group.
RATING(*)
Moody’s
Outlook:
Rating assigned to Unipol Gruppo Finanziario S.p.A.
Ba2
stable
long-term issuer rating
Ba2
stable
senior unsecured debt
Rating assigned to UnipolSai Assicurazioni S.p.A.
Baa2
stable
insurance financial strength rating
Ba1
stable
(hyb) subordinated debts due 2021 and 2023
Ba2
stable
(hyb) undated subordinated debt
Dagong Europe
Rating assigned to Unipol Gruppo Finanziario S.p.A.
BBB
stable
long-term credit rating
A-3
negative
short-term credit rating
Rating assigned to UnipolSai Assicurazioni S.p.A.
BBB+
A-2
stable
long-term credit rating
negative
short-term credit rating
Fitch
Rating assigned to Unipol Gruppo Finanziario S.p.A.
BBB-
stable
long-term issuer default rating
BB+
stable
senior unsecured debt
Rating assigned to UnipolSai Assicurazioni S.p.A.
BBB+
stable
insurer financial strength rating
A-2
negative
subordinated debts due 2021 and 2023
BB
stable
undated subordinated debt
A.M. BEST
Rating assigned to UnipolSai Assicurazioni S.p.A.
(*)
A-
stable
financial strength rating
a-
stable
issuer credit rating
Figures at 31/07/2016
5
Macro business sectors.
The Unipol Group
Macro business sectors.
INSURANCE
The main insurance company of the Group is UnipolSai Assicurazioni (which also includes SIAT), in addition to the
specialised companies Linear and UniSalute. These are joined by DDOR Novi Sad, the third-largest insurance company
in Serbia.
BANKING
Unipol Banca is a bank specialised in the retail and SME customer segment. It offers all banking products intended for
households (bonds, asset management, mortgages, loans) and small business owners (loans, payment instruments).
Since 2013, its branches have been accompanied by the Group’s online bank, My Unipol Banca.
BANCASSURANCE
The Unipol Group is active in the bancassurance channel thanks to the agreement with Unipol Banca and the other joint
ventures entered into with leading Italian banking operators: Popolare Vita (UnipolSai 50% +1 share; Banco Popolare 50%
-1 share) and its subsidiary The Lawrence Life; Arca Vita (Unipol Gruppo Finanziario 63.4%; Banca Popolare dell’Emilia
Romagna 19.7%; Banca Popolare di Sondrio 14.8%; other banks 2.1%), and the subsidiary Arca Assicurazioni (active in NonLife business); BIM Vita with Banca Intermobiliare and Incontra Assicurazioni with the UniCredit Group.
7
The insurance sector.
Innovation and security.
The Unipol Group
The insurance sector. Innovation and security.
The Unipol Group is the Italian leader in Non-Life business, in particular in MV TPL, and is second in Italy in terms of total
income. Services and security, together with convenience, are the key aspects of the offer by UnipolSai, a company that
combines excellent customer service with a high level of technological and product innovation. Its aim is to develop an
ethical, fair, and thus better relationship with customers.
In 2003, Unipol was the Italian forerunner in the segment of MV black box policies, and is now the European leader,
with an estimated market share of 60% and almost 3 million devices installed.
The Unipol Group offers a complete range of risk coverage solutions:
• on the move (vehicles, boats and travel);
• for homes and buildings;
• at work (products dedicated to businesses, retailers, professionals and legal protection);
• for personal protection (accident insurance and health protection in particular);
• for investments and social security.
The Group operates through UnipolSai Assicurazioni (which also includes SIAT), in addition to the specialised companies
Linear and UniSalute.
Unipolsai Assicurazioni
UnipolSai Assicurazioni S.p.A. is the multi-branch
Percentage breakdown of Non-Life direct premium income
insurance company of the Unipol Group, founded on 6
Accident & Health
January 2014 as a result of the merger by incorporation
into Fondiaria-Sai of the historical companies Unipol
11.4%
Other classes
Assicurazioni and Milano Assicurazioni, and as well
6.2%
as Premafin, financial holding company of the former
Fondiaria-Sai Group.
It is the second largest insurance group in the country in
terms of total income, which amounted to €14bn at the
Fire and other
damage
end of 2015.
51.7%
9%
General TPL
MV TPL
13.9%
7.8%
Land vehicles hulls
The Company operates through five divisions (Unipol, La
Fondiaria, Sai, Nuova MAA and La Previdente) and the
largest network in Italy, counting over 3,000 insurance
UNIPOLSAI HAS THE LARGEST NETWORK
IN ITALY, WITH APPROXIMATELY 3,000
INSURANCE AGENCIES AND OVER 6,000
SUB-AGENCIES.
agencies and more than 6,000 sub-agencies distributed
across the country.
Beyond the Italian borders, UnipolSai operates in Serbia
through its subsidiary DDOR Novi Sad.
9
The Unipol Group
The insurance sector. Innovation and security.
linear assicurazioni
unisalute
Linear Assicurazioni, established in 1996 as part of a
UniSalute, established in 1995, was the first company
strategy for gradual channel and product diversification, is
in Italy to deal exclusively with health insurance in an
a company specialised in the direct sale, over the phone
innovative way.
and online, of MV policies and, since 2005, a multi-risk
product for homes.
The Company has a scientific committee and thousands
of affiliated healthcare facilities spread right across
The development strategy of Linear targets customers
the entire country. At these facilities, policyholders are
with good risk profiles and is focused on the loyalty of
provided quality healthcare benefits - also bookable online
existing customer, who are offered quality products at
or via app - with reduced waiting times and payment made
reasonable prices with a high degree of customisation.
directly by the Company.
The recent redesign of the Linear website also enables
UniSalute is also national leader in the management of
a new form of interaction between potential customers,
professional and corporate healthcare funds.
who may now ask other policyholders for information and
In 2015 it recorded direct premium income of €301m.
evaluations through the website.
Linear closed 2015 with direct premium income of €145m.
UNISALUTE IS NATIONAL LEADER IN THE
MANAGEMENT OF PROFESSIONAL AND
CORPORATE HEALTHCARE FUNDS.
10
The banking sector.
Integration and specialisation.
The Unipol Group
The banking sector. Integration and specialisation.
unipol banca
Direct Income by Corporate and Technical Form
Unipol Banca S.p.A. is a bank specialised in the retail and
SME customer segment. It offers all banking products
intended for households (bonds, asset management,
3500
mortgages, loans) and small business owners (loans,
3000
payment instruments).
2500
2000
It is present throughout the country with a network of
1500
approximately 300 branches.
1000
500
Since 2013, these branches have been accompanied by
0
the Group’s online bank, My Unipol Banca, which enriches
Retail
the offer with the aim of intercepting and meeting the
new needs of customers, in particular young ones, at the
Corporate
UnipolSai Group
CC&G
Short-term
same time reaching users and areas not yet covered by the
Medium-/Long-term
physical network.
Accessible from all devices, My Unipol Banca is at the
forefront of the Italian market due to its ability to combine
banking and insurance solutions: for example, account
holders may access a specific free healthcare plan, which
reimburses co-payment for highly specialised services,
Unipol Banca S.p.A. Branches
offers discounted fees to save on the cost of healthcare
and provides services for prevention, assistance and
medical advice.
Thanks to My Unipol Banca, the Group has established
itself as one of the main multichannel and multiproduct
operators. In 2014, it was awarded for innovation in digital
communication by AIFIN (Italian Financial Innovation
Approx.300
UB Branches
Association).
18Regions
The Group’s banking business consists of Unipol Banca,
83Provinces
Banca SAI, which was incorporated by Unipol Banca
in 2014, and Finitalia, a company active in the area of
consumer credit.
In 2014, direct income of the Group’s banking business
MY UNIPOL BANCA, THE GROUP’S ONLINE
BANK, IS AT THE FOREFRONT IN ITALY DUE
TO ITS ABILITY TO COMBINE BANKING AND
INSURANCE SOLUTIONS.
amounted to approximately €10bn, while loans to
customers reached €8.7bn.
12
The bancassurance sector.
Synergy and development.
The Unipol Group
The bancassurance sector. Synergy and development.
The Unipol Group is active in the bancassurance sector thanks to the agreement with Unipol Banca and the joint ventures
entered into with leading Italian banking operators.
Pursuant to the Unipol Group’s bancassurance model, each of the approximate 300 Unipol Banca branches is configured
as a local hub. Insurance agencies, financial advisors and “developers”, professionals able to ensure the commercial
development and synergies required for integrated promotion, are present at the branches.
This strategy enables the adoption of virtuous business practices, with the proposal of joint bank-agency financial and
customer protection solutions, as well as cross-selling activities.
Popolare Vita (UnipolSai 50% +1 share; Banco Popolare 50% -1 share) and its subsidiary The Lawrence Life offer products
dedicated to investment, savings and supplementary social security through the branches of the Banco Popolare Group and
in 2015 recorded income of €3,043m.
Arca Vita (Unipol Gruppo Finanziario 63.4%; Banca Popolare dell’Emilia Romagna 19.7%; Banca Popolare di Sondrio 14.8%;
other banks 2.1%), controls Arca Assicurazioni (active in Non-Life business). The insurance products are distributed
by approximately 2,200 branches of the more than 30 affiliated banks, of which around 1,600 branches belonging to the
shareholders of Banca Popolare dell’Emilia Romagna and Banca Popolare di Sondrio, with which Unipol concluded an
agreement in June 2010 for a strategic ten-year partnership. Direct income of the Arca Group amounted to €2,049m in 2015.
The other joint ventures through which the Group operates in the bancassurance sector are BIM VITA with Banca
Intermobiliare and Incontra Assicurazioni with the UniCredit Group
ARCA VITA AND POPOLARE VITA STAND OUT AMONG THE JOINT
VENTURES ENTERED INTO BY UNIPOL, IN ADDITION TO BIM
VITA AND INCONTRA ASSICURAZIONI.
14
Other business.
A growing value.
The Unipol Group
Other business. A growing value.
In the real estate sector, the Group is one of the main operators in Italy in terms of the value of assets (approximately
€4.3bn). This category includes buildings of great historical and architectural value such as the Velasca Tower in Milan.
Through UnipolSai, Unipol is also an important player in the Italian hotel industry, thanks to its subsidiary Atahotels,
which recently acquired the real estate assets of UNA S.p.A., as well as in the agricultural sector, where it operates through
Tenute del Cerro, owner of close to 4,300 hectares of land in central and northern Italy, particularly active in the production
of high quality wine.
Marina di Loano, the port facility owned by the Unipol Group, enjoys a central position on the western Ligurian coast and is
able to accommodate more than 800 boats between 8 and 77 metres of length. It was the first in Italy to offer its customers
loans for the subscription of mooring contracts.
UNIPOL IS ONE OF THE MAIN REAL ESTATE OPERATORS IN
ITALY IN TERMS OF ASSETS, ALSO ACTIVE IN THE HOTEL,
AGRICULTURAL, HEALTHCARE AND PORT INDUSTRIES.
16
Key values and corporate responsibility.
For sustainable ethics.
The Unipol Group
Key values and corporate responsibility. For sustainable ethics.
Accessibility, Farsightedness, Respect, Solidarity and Responsibility. These are the five key values identified in the
Group’s Charter of Values. The document was approved in 2008 after being prepared with the participation of all employees
and agent representatives, for a total of over 6 thousand people.
The Group’s Charter of Values was the cornerstones for the review and updating of the Code of Ethics, approved by the
Board of Directors in March 2009, a document that describes and summarises the values of the organisation and the
manners in which it intends to apply the same.
The dissemination and implementation of the Code of Ethics is entrusted to the Committee for Corporate Social
Responsibility, which has also assumed the role of Ethics Committee.
In the name of Corporate Social Responsibility, each year since 1993 (among the first in Italy) the Group has prepared a
Sustainability Report, in which it defines its objectives and policies for sustainable management. Attention is placed on risk
control and management, innovation and environmental protection.
Unipolis is instead the Unipol Group’s corporate foundation, a key instrument for implementing corporate social
responsibility policies and initiatives for the community, in line with a sustainability strategy focused on the long-term that
dedicates attention and commitment to the development of human capital, knowledge and training.
Culture, research, security and solidarity are the main areas in which the Foundation pursues its activities, in accordance
with the By-Laws, through direct projects, partnerships with other entities and by funding solidarity initiatives.
The work of the foundation is reported in the Mission Report.
Breakdown of contributions in 2015 by area
22%
Culture
€ 427,441
Distribution of contributions in 2015 by type
Research
€ 245,135
Sundry
costs
38%
Management
costs
23%
17%
Solidarity
€ 185,000
Security and
legality
€ 262,478
Donations
3%
61%
Own projects
and partnerships
6%
12%
18%
Staff costs
Source: Unipolis Foundation Annual Report 2015
FOR SOME TIME THE GROUP HAS ADOPTED A CHARTER OF VALUES
AND A CODE OF ETHICS, ALSO IMPLEMENTING CORPORATE SOCIAL
RESPONSIBILITY INITIATIVES THROUGH THE UNIPOLIS FOUNDATION.
18
The Board. Positions, names and
people.
The Unipol Group
The Board. Positions, names and people.
BOARD OF DIRECTORS
Chairman:
Pierluigi Stefanini
Vice Chairman:
Maria Antonietta Pasquariello
Managing Director and Group CEO:
Carlo Cimbri
Directors:
Gianmaria Balducci
Francesco Berardini
Silvia Elisabetta Candini
Paolo Cattabiani
Ernesto Dalle Rive
Patrizia De Luise
Anna Maria Ferraboli
Daniele Ferrè
Giuseppina Gualtieri
Claudio Levorato
Pier Luigi Morara
Antonietta Mundo
Milo Pacchioni
Sandro Alfredo Pierri
Annamaria Trovò
Adriano Turrini
Rossana Zambelli
Carlo Zini
Mario Zucchelli
BOARD OF STATUTORY
AUDITORS
Chairman:
Mario Civetta
Standing auditor:
Roberto Chiusoli
Standing auditor:
Silvia Bocci
Alternate auditor:
Chiara Ragazzi
Board of Directors Secretary:
Alternate auditor:
Massimo Gatto
Roberto Giay
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Unipol Gruppo Finanziario S.p.A.
Registered office
Via Stalingrado, 45
40128 Bologna (Italy)
Tel.: +39 051 5076111
Fax: +39 051 5076666
unipol@pec.unipol.it
Share capital €3,365,292,408.03 fully paid-up
Bologna Register of Companies
Tax and VAT No. 00284160371
R.E.A. No. 160304
Parent of the Unipol Insurance Group
Entered in the Register of Insurance Groups - No. 046
Parent of the Unipol Banking Group
Entered in the Register of Banking Groups
www.unipol.it
www.unipol.it
Unipol Gruppo Finanziario S.p.A.
Registered Office
Via Stalingrado, 45
40128 Bologna

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