Aviva and UBI Banca extend alliance

Aviva and Italian banking
group UBI Banca have extended their bancassurance alliance until
2015. The alliance dates back to January 2008 when the UK insurer
acquired a 50% plus one share stake in UBI Banca’s then
wholly-owned life insurance unit UBI Assicurazioni Vita for €65m
($85m).

Aviva’s partnership with UBI
Banca involves the distribution of Aviva life insurance products
through 1,151 branches of UBI Banca subsidiaries Banca Popolare
Commercio and Industria, Banca Popolare di Bergamo, Banca Carime
and Banca Popolare di Ancona.

UBI Banca is the fifth
largest bank in Italy by market capitalisation and number of
branches.

Sign up for our daily news round-up!

Give your business an edge with our leading industry insights.

Sign up