Industry Financial services Parent organization Aviva | Headquarters Milan | |
 | ||
Native name Aviva Italia Holding S.p.A. Type subsidiary of a listed company Services Life and non-life insurances Website Official website (in Italian) Subsidiaries Avipop Vita S.p.A, Aviva Assicurazioni Vita S.p.A. | ||
Aviva Italia Holding is an Italian holding company for the Aviva Group. According to Mediobanca, the group had a combined €3,768,783,000 (in 2014 financial year) gross premiums written as the 12th largest insurance company of Italy.
Contents
History
In 1999, the predecessor of Aviva plc, CGU plc, via Commercial Union Italia, sold 50% stake in Commercial Union Life S.p.A. and Commercial Union Assicurazioni S.p.A. to Banca delle Marche, as part of a bancassurance business. The parent company in Italy became CGNU Holding S.p.A. in 2001, which became Aviva Italia Holding in 2002. The subsidiaries became Aviva Italia, Aviva Life and Aviva Assicurazioni. The group also owned an equity stake in Banca delle Marche until 2010. The minority interests in Aviva Life and Aviva Assicurazioni were also bought back in the same year from Banca delle Marche. Aviva Assicurazioni was absorbed by Aviva Italia on 1 January 2015.
Aviva also formed a joint venture in bancassurance with Banco Popolare (Avipop Vita and Avipop Assicurazioni) in 2007, as well as with UniCredit in 1989 (Aviva S.p.A.; ex-Commercial Union Vita), UBI Banca in 2003 (Aviva Vita; ex-Risparmio Vita Assicurazioni and Aviva Assicurazioni Vita; ex-UBI Assicurazioni Vita) and Banca Popolare di Lodi in 1998 (Eurovita Assicurazioni (sold to a private equity fund in 2014) and Aviva Previdenza, absorbed by Aviva Life on 1 January 2015).
In 2014 UBI Banca sold 30% stake in Aviva Vita and Aviva Assicurazioni Vita to Aviva Italia Holding; at the same time the equity stake held by Aviva Italia Holding in Banca Popolare Commercio e Industria, Banca Popolare di Ancona and Banca Carime were sold for €327 million.