Unipol

Unipol Gruppo S.p.A is an Italian financial services holding company operating in the insurance and banking fields with headquarters in the Unipol Tower, Bologna. As of 2009 it was ranked as the country's fourth-largest insurer.[4]

The company trades under a number of brands: for insurance it uses the brands UnipolSai Assicurazioni, Linear Assicurazioni, Linear Life, UniSalute and Arca Vita; and for banking Unipol Banca.

Unipol Gruppo S.p.A
Formerly
Unipol Assicurazioni
listed Società per azioni
Traded asBITUNI
ISINIT0004810054
IndustryFinancial services
Founded1963
Headquarters,
Italy
Key people
  • Pierluigi Stefanini (chairman)
  • Carlo Cimbri (CEO)
ServicesInsurance, retail and corporate banking
RevenueIncrease €22.25 billion (2014)
Increase €192.3 million (2014)
Total assetsIncrease €88.62 billion (2014)
Total equityIncrease €5.69 billion (2014)
Owner
Number of employees
Decrease 14,223 (2014)
ParentFinsoe S.p.A.
Subsidiaries
UnipolSai(61.084%)[2]
Unipol Banca(85.34%)
Linear Assicurazioni(100%)
Linear Life(100%)
Unisalute(98.53%)
Arca Vita(63.39%)
Capital ratio18.5% (Tier 1)
Websitewww.unipol.it
Footnotes / references
source [3]

History

Unipol Assicurazioni was founded in 1962 in Bologna as a cooperative provider of non-life insurance.

In 1995 the company entered a partnership arrangement with the banking group Casse Emiliano Romagnole, whereby Unipol sold its products through the bank's networks. The partnership also involved complex deals in ownership. As at 31 December 1995, Unipol owned 3.64% shares of CAER; CAER in turn owned 9.80% shares of Unipol's parent company Finsoe. CAER also owned Banca dell'Economia Cooperativa through 6.99% shares owned by CAER directly, as well as an additional 13% shares of the bank owned by CAER's subsidiary Cassa di Risparmio in Bologna (Carisbo). Through Carisbo's subsidiary, FINCAER, the bank group also purchased a minority ownership from Unipol in UniSalute (9.9%) and in Noricum Assicurazioni (34%), In 1996 FINCAER had a minority ownership in Linear Assicurazioni (20%), as well as the ownership in Noricum which increased to 44%.

Since 1998 Unipol started to build their own bank networks, to sell their own products, which gave birth to Unipol Banca. In the same year Unipol founded a 50-50 joint venture company Quadrifoglio Vita with Banca Agricola Mantovana. In December 2000 Unipol purchased 51% shares of BNL Vita, a joint venture with Banca Nazionale del Lavoro from Assicurazioni Generali.

In 2001 Unipol bought back the 9.9% shares of UniSalute and 20% of Linear Assicurazioni. Cardine Banca (ex-CAER) also sold all the shares of Unipol Banca and Finsoe to third parties.

2000s

In December 2003 Unipol subscribed to the capital increases of Reti Bancarie, a sub-holding company of Banca Popolare Italiana for €173.4 million. In return Aurora Assicurazioni got the rights to sell their products in the bank networks of Reti Bancarie.[5] BPI was involved in a failed takeover of Antonveneta, part of the bancopoli that was exposed in 2005. In early 2006 Unipol's takeover bid of Banca Nazionale del Lavoro was rejected by the Bank of Italy. BNL was acquired by BNP Paribas instead, consequently the French company acquired 4.5% shares of Unipol's parent company Finsoe.[6]

After the failed takeover bid [7] Unipol saw its CEO Giovanni Consorte resign in the midst of the bancopoli scandal. Consorte was later convicted for insider trading.[8] Under Consorte's replacements Pierluigi Stefanini and Carlo Salvatori, the company underwent extensive restructuring in 2007.

Under the restructure scheme, Unipol Assicurazioni (also known as Compagnia Assicuratrice Unipol) was to be renamed as Unipol Gruppo Finanziario, and a new subsidiary Unipol Assicurazioni would be set up.

As at 31 December 2007 the holding company controlled five insurance companies: Unipol Assicurazioni (100%), Aurora Assicurazioni (100%), Linear Assicurazioni (100%), Navale Assicurazioni (99.83%) and UniSalute (98.48%).

In 2008 Quadrifoglio Vita was sold to AXA.

In 2010 a 60% stake of Arca Vita was bought from Banca Popolare dell'Emilia Romagna (BPER) and Banca Popolare di Sondrio (BPSO); a 31.56% minority stake of Arca Assicurazioni was acquired from BPER, BPSO, Banca Popolare di Marostica, Credito Siciliano and Banca Popolare Sant'Angelo.

In 2011 BNP Paribas bought back BNL Vita from Unipol.

In 2014 [new] Unipol Assicurazioni, a subsidiary of Unipol was merged with Milano Assicurazioni, Premafin (a holding company related to Fondiaria-Sai) and Fondiaria-Sai to form UnipolSai.

References

  1. ^ "Azionisti rilevanti di UNIPOL GRUPPO FINANZIARIO SPA". CONSOB. 15 February 2016. Retrieved 16 February 2016.
  2. ^ "Azionisti rilevanti di UNIPOLSAI ASSICURAZIONI SPA". CONSOB. 15 February 2016. Retrieved 16 February 2016.
  3. ^ "2014 Consolidated Financial Statements" (PDF). Unipol Gruppo Finanziario. 14 May 2015. Retrieved 16 February 2016.
  4. ^ Cinelli, Francesa (24 February 2009). "Italian Stocks: Finmeccanica, Intesa, Mediobanca, Seat, Unipol". Bloomberg. Retrieved 2009-09-06.
  5. ^ "2003 CONSOLIDATED ACCOUNTS" (PDF). Unipol Assicurazioni. 23 June 2004. Archived from the original (PDF) on 24 February 2016. Retrieved 17 February 2016.
  6. ^ "BNP Paribas announces intent to acquire BNL". BNP Paribas. 4 February 2006. Retrieved 23 February 2016.
  7. ^ City, Our (6 February 2006). "BNP Paribas move on Roman bank could spark consolidation". The Times. London. Retrieved 2009-09-06.
  8. ^ Clark, Nick (26 October 2006). "Unipol executives jailed for insider trading". Financial News. Retrieved 2009-09-06.

External links

2017 Italian LNP Cup

The 2017 Italian LNP Cup, knows as the Turkish Airlines Cup for sponsorship reasons, was the 19th edition of the tournament. The competition was organised by Lega Nazionale Pallacanestro (LNP) for Serie A2 clubs. The tournament was played from 3 to 5 March 2017 at the Unipol Arena in Bologna.Givova Scafati were the defending champions.Segafredo Virtus Bologna went to win his first LNP Cup by beating Angelico Biella 69–68 in the Finals. Marco Spissu was named Finals MVP of the competition.

2018–19 Euroleague Basketball Next Generation Tournament

The 2018–19 Euroleague Basketball Next Generation Tournament, also called Adidas Next Generation Tournament by sponsorship reasons, is the 17th edition of the international junior basketball tournament organized by the Euroleague Basketball Company.

As in past years, 32 teams joined the first stage, which are played in four qualifying tournaments between December 2018 and February 2019.

Alessandro Vaglio

Alessandro Vaglio (born January 28, 1989) is an Italian professional baseball infielder, for the Fortitudo Baseball Bologna in the Italian Baseball League.

He also played for the Italy national baseball team in the 2010 Intercontinental Cup and 2013 World Baseball Classic.

Bancopoli

"Bancopoli" was the name coined by the Italian press for the finance and banking scandals between July 2005 and January 2006. The Italian Banca Popolare Italiana (BPI), in competition with Holland's ABN AMRO for control of Banca Antonveneta, was given an unfair advantage by Banca d'Italia's (Italy's central bank) president, Antonio Fazio.

Fazio was forced to resign and BPI Managing Director, Gianpiero Fiorani, was arrested on a number of charges in connection with the attempted takeover, having been accused of using illegal procedures. Giovanni Consorte, head of the Italian insurance company Unipol, was also forced to resign due to implications that he was connected with the Antonveneta scheme and another attempted takeover of the Italian Banca Nazionale del Lavoro (BNL). Ultimately, ABN AMRO gained control of Antonveneta and the French BNP Paribas attained control of BNL.

Casse Emiliano Romagnole

Gruppo Bancario Casse Emiliano Romagnole (CAER) was an Italian holding company and banking group, based in Bologna, Emilia-Romagna. The main company of the group was Cassa di Risparmio in Bologna (Carisbo).

DDOR Novi Sad

DDOR Novi Sad (Serbian Cyrillic: ДДОР Нови Сад) is a Serbian insurance company based in Novi Sad, Serbia. It is the third largest insurance company in Serbia, offering auto, home, commercial and life insurance.

Filippo Crepaldi

Filippo Crepaldi (born February 19, 1992) is an Italian professional baseball pitcher for the Unipol Bologna of the Italian Baseball League.

Crepaldi played for the Italy national baseball team at the 2010 World Junior Baseball Championship and for Team Europe at the 2015 edition of the Asia Winter Baseball League. He also pitched for his club team at the 2013 Asia Series. He was selected to represent Italy at the 2017 World Baseball Classic.

Finsoe

Finsoe S.p.A. (acronym of Finanziaria dell'economia Sociale) is an intermediate holding company for several coop societies of Coop (Italy). Finsoe was the major shareholders of Unipol (31.40% share capitals) and in the past, had a direct minority shareholding in Unipol Banca (sold to Unipol in August 2008). Until 2015 Unipol had two class of shares, making Finsoe hold 50.75% voting rights and 31.40% share capital on Unipol. However, in mid-2015 all shares were converted to ordinary shares.

Fortitudo Baseball Bologna

Fortitudo Baseball 1953, commonly referred to as Fortitudo Bologna, also known as UnipolSai Bologna for sponsorship reasons, is a baseball club based in Bologna that competes in Serie A1, Italy's professional baseball league.

The team plays at Gianni Falchi Stadium and has won 11 national championships and 6 European Cups. In 2013, the team was invited to participate in the Asia Series, placing sixth overall after losing to Samsung Lions (5-2) and Uni-President 7-Eleven Lions (10-0).

Luca Panerati

Luca Panerati (born 2 December 1989 in Grosseto, Tuscany, Italy) is an Italian professional baseball pitcher. He debuted with the Italian national baseball team in 2007 and in minor league baseball in 2008.

Marco Sabbatani

Marco Sabbatani (born April 13, 1989) is an Italian professional baseball catcher for A.S.D. Castenaso in the Italian Baseball League.

Sabbatani was selected as a member of the Italy national baseball team at the 2017 World Baseball Classic.

Ronny Cedeño

Ronny Alexander Salazar Cedeño (born February 2, 1983), is a Venezuelan former professional baseball shortstop, who played in Major League Baseball (MLB) for the Chicago Cubs, Seattle Mariners, Pittsburgh Pirates, New York Mets, Houston Astros, San Diego Padres, and Philadelphia Phillies. Cedeño batted and threw right-handed.

Ryan Searle

Ryan Searle (born 22 June 1989, Brisbane, Australia) is an Australian professional baseball pitcher who is a free agent.He is a regular on the Australia national baseball team, the "Southern Thunder". He has been both a starter and a relief pitcher throughout his career which reached its highest level at AAA Iowa Cubs in 2012. Most notably recently, Searle broke the saves (17) and ERA (0.40) record in the newly formed ABL while pitching as the closer for the eventual 2015/2016 ABL Champion Brisbane Bandits.

UnipolSai

UnipolSai Assicurazioni S.p.A. is an Italian financial services company based in Bologna and founded in 2014. It was part of Unipol Group.

Unipol Arena

Unipol Arena (previously known as Futureshow Station and PalaMalaguti) is an indoor sporting arena located in Casalecchio di Reno, Province of Bologna, Italy. The seating capacity of the arena for basketball games is 11,000 people, and the seating capacity for concerts is 18,000 people. It was opened in December 1993. It is currently home to the Virtus Bologna basketball team.

Unipol Assicurazioni (Unipol Group's subsidiary)

Unipol Assicurazioni (also known as UGF Assicurazioni or Compagnia Assicuratrice Unipol) was a subsidiary incorporated in 2007 to receive the assets from Unipol Gruppo Finanziario (the holding company). On 6 January 2014 it was merged with other insurance companies to form UnipolSai.

Unipol Banca

Unipol Banca S.p.A. is an Italian bank based in Bologna, Emilia-Romagna region. It is part of Unipol Group. Despite the shares of the bank were either owned by Unipol or their subsidiary UnipolSai, about 14.66% shares of the bank (as at 31 December 2014) were indirectly belong to the minority owners of UnipolSai.

Unipol Tower

Unipol Tower, is a 33-story skyscraper located at Via Larga in Bologna, Italy. Rising to a height of approximately 127 metres (417 ft), the building serve as the new headquarters of Unipol Bank includes office and retail space in its 13,000 m2 (140,000 sq ft) square meter of floor area. Construction was completed in 2012.

Designed by architectural firm OpenProject of Bologna, Unipol Tower incorporates various environmental innovations that achieved the prestigious (LEED) gold certification.

The building is the tallest construction in Bologna and currently the 9th in Italy. Previously the tallest building in Bologna was the condominium located at Via Cellini with a height of 90 metres (300 ft), holding that title since 1958.

The main project includes a mall with fitness center, a movie theater and a luxury hotel, currently under construction.

Vincenzo Visco

Vincenzo Alfonso Visco (Italian pronunciation: [vinˈtʃɛntso ˈvisko]; born 18 March 1942 in Foggia) is an Italian politician and economist who has served as a government minister.

He gained an MSc in Economics at the University of York in 1969 and was awarded an honorary degree in 2004.Visco was elected to the Parliament of Italy in 1983 for the Sinistra Indipendente group, joining the Democratic Party of the Left in 1991, the Democrats of the Left in 1998 and the Democratic Party in 2007. He served as Finance Minister for a few days in 1993 and then again from 1996 to 2000 and Treasury Minister from 2000 to 2001.

He returned to government in 2006 as Vice-Minister of Economy, a role in which he courted controversy. He was accused of using his political influence to benefit Unipol in a bank takeover, although he was cleared of any illegal activity. He also hit the headlines in this role when he described the country's debt as "a disaster". One of his final acts in this role was to publish the tax details of every Italian citizen for 2005 in a move he described as 'an act of transparency, of democracy, similar to what happens elsewhere in the world'.

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