(Alliance News) - MutuiOnline Group Spa announced on Tuesday an institutional re-branding plan, "after a 2023 closed under the banner of strong growth despite an unfavorable market environment for mortgages," the company points out.

Specifically, it will be proposed at the next shareholders' meeting to change the company's name to "Moltiply Group Spa."

"The rebranding comes at the conclusion of a financial year in which the group has further consolidated the diversification of its activities, both from the point of view of reference sectors - in 2023 mortgage-related activities weighed 19 percent of consolidated revenues - and geographic presence, thanks to the comparison and brokerage businesses acquired in France, Spain and Mexico," the company specifies in a statement.

Alessandro Fracassi, group CEO, said, "Moltiply is not just our new name, it is the vision of our group in which, together with our customers, we amplify success, drive innovation and set new benchmarks of excellence. United under Moltiply, we are integral architects of this exciting new chapter, committed to multiplying the potential of our customers, our people and our industry."

In addition to being the company's new name, Moltiply will also be the commercial brand under which the group's BPO Division will operate while "Mavriq" will be the institutional brand under which the Broking Division will operate, which in recent years has embarked on a path of internationalization, with the acquisition of leading operators in Spain, France and Mexico, "thus positioning itself as one of the leading players in online comparison and brokerage in Europe," the note continues.

The name chosen is "a reference to the American term 'maverick,' which indicates a free, positive and nonconformist spirit, willing to challenge the rules-represents the idea of independence and challenge to the status quo, which has always guided the group's activities in the B2C sphere."

MutuiOnline Group rises 0.7 percent to EUR34.95 per share.

By Chiara Bruschi, Alliance News reporter

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