MILAN, Sept 30 (Reuters) - Italian bank UniCredit said on Friday it had signed with insurance partner Allianz an accord that would see them effectively swap their respective direct and indirect stakes in Croatian units.

Under the accord UniCredit will purchase Allianz's 11.72% stake in Croatian bank Zagrebaka Banka, which is part of the UniCredit group.

Allianz Holding in turn will acquire the 16.84% stake held by Zagrebaka in Croatian insurer Allianz Hrvatska. (Reporting by Valentina Za, editing by Gianluca Semeraro)