Corporate›FinancialFitch upgrades Unipol Group ratings: UnipolSai at BBB+

FITCH UPGRADES UNIPOL GROUP RATINGS: UNIPOLSAI AT BBB+

Bologna, June 10 2021

The rating agency Fitch Ratings has upgraded the Insurer Financial Strength Rating of UnipolSai Assicurazioni S.p.A. to "BBB+" from "BBB" or two notches above Italy's rating (BBB- / Stable Outlook).. Consequently, the Issuer Credit Rating of Unipol Gruppo Finanziario went up to "BBB" from "BBB-". The Group's debt ratings have also been upgraded by 1 notch:

• Unipol Group S.p.A. senior debts are now at "BBB-";
• UnipolSai Assicurazioni S.p.A. subordinated debts are now at "BB+";
• UnipolSai Assicurazioni S.p.A. perpetual RT1 debt is now at "BB-". The rating agency outlook of the ratings remains "stable".

In its assessment, the Fitch Committee recognised the soundness of the strategy and the Group's achievements, particularly with regard to the assets concentration risk in the investment portfolio and the strengthening of capital in 2020.

The full text of the press release issued by Fitch Ratings is attached.

Unipol Gruppo S.p.A.

Unipol is one of the biggest insurance groups in Europe and the leading company in Italy in the non-life insurance sector, (especially in the MV and health businesses), with total premiums of approximately €12.2bn, of which €7.9bn in non-Life and €4.3bn in life (2020 figures). Unipol adopts an integrated offer strategy and covers the entire range of insurance and financial products, operating primarily through the subsidiary UnipolSai Assicurazioni S.p.A. The Group is also active in direct MV insurance (Linear Assicurazioni), transport and aviation insurance (Siat), health insurance (UniSalute), supplementary pensions and also covers the bancassurance channel (Arca Vita, Arca Assicurazioni and Incontra). It also manages significant diversified assets in the debt collection (UnipolReC), real estate, hotel (Gruppo UNA), medical-healthcare and agricultural (Tenute del Cerro) sectors. Unipol Gruppo S.p.A. is listed on the Italian Stock Exchange.

UnipolSai Assicurazioni S.p.A.

UnipolSai Assicurazioni S.p.A. is the insurance company of the Unipol Group, Italian leader in the Non-Life Business, in particular in the MV and Health businesses. Also active in Life Business, UnipolSai has a portfolio of over 10 million customers and holds a leading position in the national ranking of insurance groups with a direct income amounting to approximately €12.2bn, of which €7.9bn in Non-Life Business and €4.3bn in Life Business (2020 figures). The company has the largest agency network in Italy, with about 2,400 insurance agencies spread across the country. UnipolSai is also active in direct MV insurance (Linear Assicurazioni), transport and aviation insurance (Siat), health insurance (UniSalute), supplementary pensions and also covers the bancassurance channel (Arca Vita, Arca Assicurazioni and Incontra). It also manages significant diversified assets in the real estate, hotel (Gruppo UNA), medical-healthcare and agricultural (Tenute del Cerro) sectors. UnipolSai Assicurazioni is a subsidiary of Unipol Gruppo S.p.A. and is also listed on the Italian Stock Exchange.

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