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HDI Assicurazioni acquires Amissima Assicurazioni S.p.a.
Rome, 22 October 2020 – HDI Assicurazioni today announces the 100’s% acquisition of the shares of Amissima Assicurazioni (HDI ITALIA since 14.02.21), thus strengthening its positioning in the Italian insurance market. This operation is part of expansion strategy of the Talanx Group’s presence in Italy, which has been working in our country, through HDI Assicurazioni, since 1997.
With this acquisition, the HDI Assicurazioni Group enhances its diversification by expanding its business in the Non-Life insurance, increasing Non-Life premiums by approximately 300 millions and thus reaching overall premiums of approximately 2 billion euros. This acquisition moves HDI up from 17th place to 11th place among italy’s non-life insurers and gives HDI the opportunity, in the medium term, to become part of the group of the ten largest Italian insurers in the Non-Life business.
Amissima Assicurazioni - whose origin dates back to 1920 - works in Italy for the protection of assets and individuals, families and small and medium-sized enterprises, distributing its insurance products both through a network of around 400 agencies throughout the country, and through banking partnership. Acquired by investment funds managed by affiliates of Apollo Global Management Inc. in 2015, the amount of Amissima’s issued premiums were 293 million euros, and ranks as one of the 20 largest Non-Life insurers in Italy. It employs around 300 people.
HDI Assicurazioni generates a premium volume of approximately € 1.7 billion (2019) of which € 1.3 billion in the Life business and € 400 million in Non-Life insurance. The Company has around 400 employees.
The acquisition operation is subject to obtaining the authorization from the competent supervisory authorities.
«It is an important day for our Company, because with the acquisition of Amissima Assicurazioni, HDI makes a significant step towards being more competitive on the market but also closer to our customers, today and tomorrow», observed the CEO of HDI Assicurazioni Roberto Mosca. «I am pleased to be able to announce this acquisition, which we have worked hard in full synergy with the Talanx Group. Today we are expanding our position on the market, but without forgetting what made us what we are, and what we want to continue to be: a company alongside our customers and our sales network every day».
HDI Assicurazioni
HDI Assicurazioni was created in 1881, with the founding of the Società di Mutuo Soccorso, which over the decades became BNC Assicurazioni. In 1997, the company joined the third largest German insurance group, the Talanx Group in Hanover and became HDI Assicurazioni. Today, company turnover is around €1.7 billion, of which around €400 million is in the non-life sector. In this field, the most significant share comes from motor insurance, with almost 300 million premiums per year.
With this acquisition, the HDI Assicurazioni Group enhances its diversification by expanding its business in the Non-Life insurance, increasing Non-Life premiums by approximately 300 millions and thus reaching overall premiums of approximately 2 billion euros. This acquisition moves HDI up from 17th place to 11th place among italy’s non-life insurers and gives HDI the opportunity, in the medium term, to become part of the group of the ten largest Italian insurers in the Non-Life business.
Amissima Assicurazioni - whose origin dates back to 1920 - works in Italy for the protection of assets and individuals, families and small and medium-sized enterprises, distributing its insurance products both through a network of around 400 agencies throughout the country, and through banking partnership. Acquired by investment funds managed by affiliates of Apollo Global Management Inc. in 2015, the amount of Amissima’s issued premiums were 293 million euros, and ranks as one of the 20 largest Non-Life insurers in Italy. It employs around 300 people.
HDI Assicurazioni generates a premium volume of approximately € 1.7 billion (2019) of which € 1.3 billion in the Life business and € 400 million in Non-Life insurance. The Company has around 400 employees.
The acquisition operation is subject to obtaining the authorization from the competent supervisory authorities.
«It is an important day for our Company, because with the acquisition of Amissima Assicurazioni, HDI makes a significant step towards being more competitive on the market but also closer to our customers, today and tomorrow», observed the CEO of HDI Assicurazioni Roberto Mosca. «I am pleased to be able to announce this acquisition, which we have worked hard in full synergy with the Talanx Group. Today we are expanding our position on the market, but without forgetting what made us what we are, and what we want to continue to be: a company alongside our customers and our sales network every day».
HDI Assicurazioni
HDI Assicurazioni was created in 1881, with the founding of the Società di Mutuo Soccorso, which over the decades became BNC Assicurazioni. In 1997, the company joined the third largest German insurance group, the Talanx Group in Hanover and became HDI Assicurazioni. Today, company turnover is around €1.7 billion, of which around €400 million is in the non-life sector. In this field, the most significant share comes from motor insurance, with almost 300 million premiums per year.