UniCredit Introduces Its First Fully Internal Life Insurance Policy with Emphasis on Fees

Launch of New Insurance Policy: UniCredit has introduced its first life insurance policy, Premium One, aimed at wealth management and private banking clients in Italy, marking a significant step in enhancing its insurance business.

In-House Management Focus: The policy is managed by a newly established internal team within UniCredit's fund business, reflecting the bank's strategy to rebuild its fund management capabilities after previous divestitures.

Impact on Fee Income Strategy: This initiative is part of UniCredit's broader strategy to increase fee income, which was affected by the sale of its fund management arm and other assets.

Future Partnerships Uncertain: CEO Andrea Orcel indicated potential challenges in renewing contracts with commercial partners, particularly with Amundi, which manages a significant portion of UniCredit's assets under management.