Finance
UniCredit launches first fully internal life policy in focus on fees
Published by Global Banking and Finance Review
Posted on November 24, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 24, 2025
2 min readLast updated: January 20, 2026
UniCredit launches its first in-house life policy to boost fee income and strengthen its insurance business, targeting wealth management clients in Italy.
MILAN (Reuters) -UniCredit said on Monday it was launching its first life policy fully developed and managed in-house, underscoring efforts to rebuild internal fund management capabilities and strengthen its insurance business.
UniCredit has been working since 2021 to boost fee income, which took a hit when it sold fund management arm Pioneer and asset manager Fineco to shore up capital reserves.
* UniCredit says Premium One insurance policy targets wealth management and private banking customers in Italy.
* Policy issued by UniCredit Life Insurance, which the bank set up earlier this year after buying out CNP Assurances and Allianz and taking full control of "bancassurance" JVs.
* Policy invests in new internal insurance funds directly managed by a team UniCredit created within its onemarkets fund business, which also repackages for clients' third-party funds.
* UniCredit says policy is a tangible result of strategy to earn more on asset management.
* UniCredit's net fee push has implications for commercial partners. CEO Andrea Orcel has said a contract with Amundi, which accounts for the majority of UniCredit's AUM, could struggle to be renewed and declined to comment on whether a partnership Germany's Allianz would run after 2027.
(Reporting by Valentina Za; Editing by Alexander Smith)
A life policy is an insurance contract that pays out a sum of money to beneficiaries upon the insured person's death or after a specified period. It is often used for financial protection and investment purposes.
Asset management refers to the systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner. It involves managing investments on behalf of clients to achieve specific financial goals.
Wealth management is a comprehensive service that combines financial planning, investment management, and other financial services to manage an individual's or family's wealth effectively.
Fees in financial services are charges imposed by financial institutions for services rendered, such as managing investments, providing advice, or processing transactions. They can vary widely based on the service and provider.
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