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Allianz, UniCredit Bulgarian units sign bancassurance deal

Allianz Bulgaria Holding AD signed a bancassurance agreement with UniCredit Bulbank AD under which the bank will exclusively offer the insurer's nonlife and life insurance products to its clients.

The deal follows a similar partnership agreement signed by UniCredit SpA and Allianz Group, the parent companies of the Bulgarian units, Allianz Bulgaria said Oct. 16.

In June, UniCredit signed agreements with Allianz and Generali to distribute insurance products to individuals and small businesses in Bosnia, Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia.