Società Cattolica di Assicurazione - Società Cooperativa
Headquarters in Verona - Italy
Lungadige Cangrande n.16
PRESS RELEASE
“CATTOLICA INVESTIMENTI SIM” GROUP’S NEW FINANCIAL DISTRIBUTION COMPANY
NOW READY TO GO
Completion of acquisition of Ras Investimenti Sim
Verona, March 26th 2003. Having received approval from the Bank of Italy, Cattolica
Assicurazioni has acquired Ras Investimenti Sim from the Ras-Allianz Group. This
company, now renamed Cattolica Investimenti Sim, is set to act as the Cattolica
Group’s financial distribution company. The aim of the acquisition is to strengthen the
Group’s new sales model permitting sale of banking and financial products via the
Group’s agency network.
The deal has been completed at a total price of € 1,344,054. The new company’s net
equity totals € 1,294,054. Cattolica owns 99% of share capital whilst the subsidiary Il
Duomo Assicurazioni owns 1%.
Cattolica Investimenti Sim will be the interface and crossroads between the group’s
territorial network and banking partners. It will serve to promote an innovative
marketing strategy enabling agencies to offer a range of integrated services (insurance,
banking, and finance), differentiated by brand and characteristics, creating a positive
return in terms of cross-selling and enhancement of customer loyalty.
The company’s business will be complementary to the Group’s core insurance business
and designed to maximise commercial effectiveness of the traditional network – which
at 2002 year-end consisted of 1,024 agencies. Expansion of the Group’s range of action
via acquisition of Cattolica Investimenti Sim forms part (as does the recent acquisition
of an asset-management company) of the actions envisaged in the 2003-2005 business
plan.
The strategic and commercial objectives pursued by the Cattolica Group with the latest
acquisition are to (a) assure overall co-ordination of all Group agencies’ financial
promotion activities and (b) create an integrated banking and financial offering, under a
specific brand, albeit based on multi-bank product factories (partner banks).
SOCIETA’ CATTOLICA DI ASSICURAZIONE
For further information:
Giorgio Zampieri
Tel. 045/8391745
[email protected]
www.cattolica.it