Integration project between Unipol Assicurazioni, Fondiaria-Sai, Milano Assicurazioni and Premafin
On 29 January 2012, the Unipol Group announces the start of the implementation process of the integration plan
for the merger of Unipol Assicurazioni, Fondiaria SAI, Milano Assicurazioni and Premafin. The acquisition represents an important opportunity for the Group to grow in size; the project is based on a solid industrial rationale, whose pillars are:
- creation of a market leader in Non-Life Insurance in Italy, with a European dimension;
- restructuring and simplification operation based on the solid track record of Unipol in business integrations;
- about € 350m in estimated industrial synergies in the medium-term (recovery of profitability in Non-Life Insurance, cost streamlining, increase in productivity);
- significant strengthening of equity;
- value creation for all stakeholders.
The integration project sets out a comprehensive series of conditions and transaction. In particular, Unipol is in the process of obtaining the required authorizations from all the supervisory authorities concerned.