|Date joined:||11 December, 2019|
|Initiatives:||Principles for Sustainable Insurance|
The Insurance Division is the group of insurance companies of Intesa Sanpaolo (leading bancassurance player in Italy). It is a wealth management & protection company that, embedded within the bancassurance model of Intesa Sanpaolo, offers both P&C (e.g. Motor, Health, Home, …) and Life insurance (e.g. unit linked, pension products, …) tailored for the Group’s clients through Intesa banking salesforce, operating both in Italy and in the international landscape.
The Insurance Division is currently the leader in Life insurance Italian market and is ranking in the top 5 insurers in the P&C landscape, accounting for 20-25% of total Intesa Sanpaolo Group’s annual revenues with more than 13 bln€ in GWP (sept. 2019) and counting ca. 900 employees.
The Division includes Intesa Sanpaolo Vita (parent company of the Insurance Group), Intesa Sanpaolo Life, Fideuram Vita and Intesa Sanpaolo Assicura with direct deposits and technical reserves of 164 billion euros.
Adherence to the PSI and the comprehensive sharing of what is envisaged in the 4 principles are an integral part of this important process, and the PSI are a reference in the definition of future objectives and actions of Intesa Sanpaolo Vita.
Accordingly, adherence to the PSI is no superficial ambition: instead, it represents a strategic decision that is consistent with the objective of increasingly integrate Sustainability into Company culture. Not only is this intended to mitigate the Company’s impact, but it also provides a framework in the way it does business and strives to be a sustainable and responsible Insurer.
Considering the primary role of Intesa Sanpaolo in the Italian landscape, the Insurance Group is committed to share these principles among its stakeholders, the institutions and parties with which it has contacts, its peers and competitors, and – more in general – among the Community.
The Insurance Division, through its 4 companies, currently operates in Italy and Ireland. We are in the process of defining an expansion strategy to reach new markets and countries, also outside Europe.