Expansion into Italy through 50% stake in bank’s insurer
France's BNP Paribas and Belgian insurer Fortis will buy a majority stake in the non-life insurance unit of Italy's UBI Banca, Reuters reported
Fortis and BNP Paribas Assurance would take 50% plus one share of P&C insurer UBI Assicurazioni.
Fortis and BNP would pay €120m in cash on completion of the deal. It could make a further payment of about €40m depending on future business.
The deal is through F&B Insurance Holdings. Fortis would have a 50% plus one share stake, with BNP Paribas Assurance the rest.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
