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Bond Market News
UniCredit Increases Stake in Assicurazioni Generali to 8.7%
April 24, 2026
UniCredit SpA increased its stake in Assicurazioni Generali SpA to 8.7%, marking a significant shift from October, when the former’s CEO Andrea Orcel signaled intentions to divest. UniCredit is now the third-largest shareholder of the Italian insurer, positioning it as a major player in Italy’s consolidating financial sector. A UniCredit spokesperson characterized the holding as a “financial investment” with an attractive return, noting that the position is largely hedged to minimize capital absorption and economic risk. This buildup follows a high-profile governance clash for Generali that includes Banca Monte dei Paschi di Siena (Generali’s largest shareholder) and involves rival tycoons Francesco Gaetano Caltagirone and the Del Vecchio family.
UniCredit’s EUR 5.625% Perp was trading stable nearly at par.
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