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UICBS ASSICURASAI SpA (UAS) 

 

UAS's global reach and specialist financial capability assist multitudes of business clients, ranging from SME's to multinational corporations, to unlock their latent potential through our unique mutually  beneficial approach.

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UAS commercial & monetary facilities operate in 53 countries and regions, globally. UAS provide services in the developed and developing markets in order to provide our clients with an integrated and cohesive solution. Our channel and relationship managers, connect companies and individuals to opportunities, creating growth opportunities for all of our clients.

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UAS work with a range of clients, ranging from SME's to large multi national corporations, providing services and bespoke solutions, and operational tools in order for them to operate effectively in an ever changing competative market place. UAS provide the financial capability to support our clients through  working capital, debt provision, insurance instruments and project finance. We are also able to provide our clients with the expertise to assist them with fund-raising from the stock and bond markets if applicable and wherever necessary.

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Global Financial and Markets

UAS Financial and Markets (UAS-FM) provides financial services and products to clients aiding approximately 4,000 clients in excess of 50 countries and territories globally, providing  a range of transactional banking, project finance, advisor & consultancy, capital markets and associated risk management provision.

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UAS provide mutually collaborative partner arrangements with our clients which provide sustainable enhanced performance while providing commercial opportunities in developed and developing sectors.

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Our sector-focused client service teams include:

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• Corporate Entities

• Financial Institutions 

• Resource Sector

• Energy Sector

• Manufacturing

• Infrastructure

• Medical

• Commodities

• Food

 

Our products and services include:

• Advisory & Consultancy

• Financing - Project Funding

• Insurance Surety Bond

• Credit Insurance

• Prime Services

• Research and analysis

• Securities services

• Trading and Sales

• Transactional banking

• Leased Financial Instruments

• Purchase Financial Instruments

 

ITALIAN INSURANCE REGULATION

Italy has a well-established and concentrated insurance market, according to the annual report of the supervisory authority on insurance companies (lstituto per la vigilanza suite assicurazioni private e di interesse collettivo) (ISVAP), as of 31 December 2019, there are 107 companies incorporated under Italian law, UIC are included under Non-Life Insurance stature, the ISVAP records held for UAS show written policies from non-life insurance. UAS are noted as transacting multiple areas of Insurance exctuding "Life Policies" and are internationally recognised as an upstanidngInsurance institution within the Italian Insurance industry.

 

Due to the implementation of Directive 2002/87/EC in Italy on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate (Supplementary Supervision Directive), ISVAP, the Bank of Italy and the Italian supervisory authority on financial markets (Commissione Nazionale per le Societa e la Borsa) (CONSOB) have recognised eighty six medium to large Italian financial companies on file, three of these are "international conglomerates" being Paste Vita Group, Mediolanum and Unipol Gruppo Finanziario, 39 of these are classed as "international" medium sized businesses and the remainder as small businesses conducting most of their business in insurance including UIC who are listed under "international Insurance company of medium stature, all of which are subject to ISVAP's supplemental supervision.

 

The legislation regulating insurance and reinsurance businesses consists of the Private Insurance Code (adopted by Legislative Decree No. 209/2005 and in force since 1 January 2006, restricted in January 2012). It is a comprehensive law comprising 355 Articles, mainly regulating:

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• Insurance and reinsurance companies

• Insurance and reinsurance business activities.

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INSURANCE INTERMEDIARIES

UAS adheres to the Private Insurance Code which allows ISVAP to issue regulations in specific areas of insurance law (of which 39 regulations have already been enacted). The Private Insurance Code contains important provisions concerning the disclosure of information under insurance contracts and the policyholder's protection (such as Article 185). Further insurance contract rules are listed in Articles 1882 to 1932 of the Civil Code of 1942 (Civil Code).

 

Under Italian law, unit-linked and index-linked insurance policies are characterised as having certain features associated with life insurance contracts and other features associated with financial products. They are marketed in Italy accompanied by a prospectus (rather than an information note) and CONSOB (rather than ISVAP) is responsible for supervisingthese poficies.

 

In conclusion, UAS are one of the most established and integral Insurance Companies in Europe who operate Insurance Binder Policies in Security to Private Lenders and Mainstream rated Banks for the purpose of Client Loans. UAS are an Insurer who operate with due consideration to within a regulatory and legal framework, which assures sound financial transactions with the highest standard of "best business practice."