June 5, 2020 / 4:22 PM / 2 months ago

UBI extends insurance partnerships with Cattolica and Aviva

MILAN, June 5 (Reuters) - Italy’s UBI Banca said on Friday it has extended its insurance partnerships with Cattolica and Aviva to the end of June of the next year.

The bancassurance agreements, which allow the two insurance companies to sell their products to the bank’s clients base, were due to expire in December.

Intesa Sanpaolo unveiled on Feb. 17 an all-paper exchange offer for UBI to create the euro zone’s seventh-largest banking group, just days before the novel coronavirus outbreak in Italy.

Reporting by Andrea Mandalà; editing by Gianluca Semeraro

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