As a non-life insurer founded in 2006, Chiara Assicurazioni reached a premium volume of EUR 32.5 million in 2012. Through Chiara Assicurazioni, Helvetia gains access to the distribution network maintained by Banco di Desio and further partner banks. The network encompasses over 1,300 bank branches and gives Helvetia a significantly stronger market presence in the attractive regions of Northern and Central Italy.
Furthermore, Helvetia acquired Banco di Desio's minority interest of 30 percent in Chiara Vita as of the start of 2013. It now holds all the equity of this life insurance company. Chiara Vita generated a premium volume of around EUR 473 million in 2012. Helvetia renewed its sales agreement for life insurance with Banco di Desio for another ten years. The agreement has been in force since 2008.
This media release is also available online at www.helvetia.com/en/media