CNP Assicura

What CNP Assicura does

CNP Assicura (legal name: CNP Vita Assicura S.p.A.) is an Italian life insurance company (Ramo Vita) operating as the wholly-owned Italian subsidiary of French insurance group CNP Assurances. It is headquartered in Milan at via Arbe 49 and is the fifth-largest player in the Italian life insurance market following the December 2021 acquisition of Aviva's Italian life business and the October 2022 buy-out of UniCredit's remaining 49% stake (EUR 500M). Through an open multi-partner distribution model it sells life protection, savings, investment and pension products to Italian individuals, families, affluent/private banking clients and corporate clients. Distribution spans 10+ named banking partners (UniCredit, CREDEM, FinecoBank, Mediobanca Premier, ING Bank, Banca Finint, Banca di Piacenza, UniCredit Leasing), financial consultant networks, multi-mandate agents, insurance brokers, and digital self-service tools. The product portfolio is organised into four lines — Protezione Vita (term life/serious illness/disability cover such as CNP Protezione Affetti, CNP Protezione Progetti, and Long Term Care), Investimenti (savings/investment including the 2026 Gamma Duo line and CNP Multiramo Opportunità 2.0, combining Branch I separate management funds Gefin and CNP Spinnaker with Branch III unit-linked components), Pensione (Fondo Pensione Aperto CNP, CNP Top Pension, CNP Valore Integrativo PIPs, Unicredit Futuro P.I.P. CNP), and Business (CNP Business TFM, CNP Business TFR, collective TCM, and CNP Business Capitalizzazione Duo 5.0).

Revenue is generated through recurring insurance premiums, fund management fees on separate accounts and unit-linked products, and pension contributions, with pricing delivered through annual premiums, single-premium (premio unico) and recurring-premium structures; no retail pricing is publicly disclosed. Solvency capital is robust at 341.5% Solvency Cover Ratio (31/12/2025), with credit ratings of A (Fitch), A (S&P), A1 (Moody's) and an MSCI ESG rating of AAA. Marketing combines the #CNPeducation content series, the World Business Forum Milano 2026 sponsorship, branded web series (A tu per tu con CNP Assicura, Intanto Parti with Giro d'Italia 2026 debut), and Ipsos Doxa's Osservatorio Investitori research. Leadership comprises CEO Tanguy Carré, Commercial Director Paolo Fumo, and Head of Distribution Massimiliano Villa (appointed from Incontra Assicurazioni, the former UniCredit–Unipol JV).

Name

CNP Assicura

Legal name

CNP Vita Assicura S.p.A.

Website

https://gruppocnp.it

Company type

Private

Operating status

Operating

Headcount range

101–250 employees

Short description

CNP Assicura is the Italian life insurance subsidiary of CNP Assurances, offering protection, savings, investment and pension products to individuals, families, affluent clients and corporates through a multi-partner model spanning banks, financial consultants, agents and brokers.

Ownership category

akta.pro rank

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Life Insurance Premiums: Collection of insurance premiums from life protection, savings, investment, and pension products. Revenue generated through premium payments from policyholders for life insurance coverage, capital accumulation products, and pension plans.
2. Investment Management Fees: Fees from managing separate funds (Gestioni Separate) and unit-linked products that invest policyholder premiums in various financial instruments
3. Pension Fund Contributions: Revenue from open pension funds (Fondo Pensione Aperto) and individual pension plans (PIP - Piano Individuale Pensionistico) with annual contributions and management fees
4. Business/Corporate Insurance: Corporate insurance products including TFM (Trattamento di Fine Mandato) and TFR (Trattamento di Fine Rapporto) management for businesses

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

CNP Assicura (legal name: CNP Vita Assicura S.p.A.) is an Italian life insurance company that designs, underwrites, and distributes life protection, savings, investment, and pension insurance products. Its portfolio includes term life and serious illness coverage, multi-branch (multiramo) savings and investment policies, open pension funds, individual pension plans (PIP), and corporate solutions covering TFM, TFR, and collective temporary death insurance. The company sells exclusively through a multi-partner distribution model spanning banking groups, financial consultants, multi-mandate agents, and brokers across Italy.

Product overview

CNP Assicura is an Italian life insurance company (Ramo Vita) operating as part of the French CNP Assurances Group. Its product portfolio is organized into four main lines: (1) Protezione Vita — life protection products including CNP Protezione Affetti and CNP Protezione Progetti covering death, serious illness, and disability; (2) Investimenti — savings and investment products including the Gamma Duo line (CNP Risparmio Duo 5.0, CNP Business Capitalizzazione Duo 5.0), CNP Multiramo Opportunità 2.0, and CNP Orizzonte Risparmio, combining separate management funds (Gefin, CNP Spinnaker) with unit-linked components; (3) Pensione — pension and retirement solutions including Fondo Pensione Aperto CNP, CNP Top Pension, CNP Valore Integrativo, and Unicredit Futuro P.I.P. CNP; (4) Business — corporate coverage including CNP Business TFM, CNP Business TFR, collective TCM products for employees and executives, and Long Term Care (LTC). Distribution is multi-partner, through banking groups, financial consultants, agents, and brokers across Italy.

Differentiator

Problem solved

Functional benefit

Products and services

• CNP Protezione Affetti Whole-life protection policy providing a constant annual capital and premium to protect loved ones in the event of premature death, with additional coverage for serious illness or disability. Targeted at individuals and families seeking financial protection.
• CNP Protezione Progetti Life protection insurance product designed to safeguard family projects and financial commitments against unforeseen events. Targeted at families and individuals.
• CNP Risparmio Duo 5.0

Quantifiable outcome

• 341.5% Solvency Cover Ratio as of 31/12/2025
• +3 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

15 partnerships are on record, tiered core and minor.

• ICÌ (Intermediari CNP Italia)coreChannel Partner/ Reseller/ Distributor · 21 May 2026Group of professionals operating alongside and in synergy with CNP Assicura, established May 2026. First elective congress held in Milan during two-day Convention organized by the insurance company.
• Banca di Piacenza soc. coop. per azionicoreChannel Partner/ Reseller/ Distributor · 1 May 2026Distribution agreement signed April 2026 for life insurance products with a training plan for approximately 260 banking professionals, effective May 1, 2026.
• Banca Finint S.p.A.coreStrategic or Co-development Partner · 23 April 2026Partnership finalized April 2026 for the development of life insurance solutions adequate to new needs arising from demographic changes, dedicated to affluent and private client segments for longevity risk management.
• AIFIn (Financial Innovation Association)minorStrategic or Co-development Partner · 7 April 2026CNP Assicura and AIFIn presented the 'Longevity Innovation' Observatory analyzing longevity needs and insurance solutions in Italy.
• World Business Forum Milano 2026minorGTM or Marketing Partner · 25 March 2026CNP Assicura participated as Sponsor at the international event dedicated to leadership and management, first year of participation.
• UniCredit S.p.A.coreChannel Partner/ Reseller/ DistributorMajor banking partner distributing CNP life insurance products through UniCredit's extensive branch network in Italy. CNP Assurances restructured its shareholding in 2022, maintaining partnership while CNP Assurances took full control of CNP Vita Assicura S.p.A.
• CREDEM S.p.A. e Credem Euromobiliare Private Banking S.p.A.coreChannel Partner/ Reseller/ DistributorDistribution partner for life insurance products through Credem banking group and private banking division.
• FinecoBank S.p.A.minorChannel Partner/ Reseller/ DistributorOnline banking partner distributing CNP life insurance products.
• ING Bank N.V.minorChannel Partner/ Reseller/ DistributorInternational banking partner distributing CNP life insurance products in Italy.
• Mediobanca PremierminorChannel Partner/ Reseller/ DistributorBanking partner distributing CNP life insurance products through Mediobanca Premier network.
• Azimut Financial Insurance S.p.A.minorChannel Partner/ Reseller/ DistributorFinancial services partner distributing CNP life insurance products through Azimut network.
• UniCredit Leasing S.p.A.minorChannel Partner/ Reseller/ DistributorBanking partner specializing in leasing products, distributing CNP life insurance.
• Firstance S.r.l.minorChannel Partner/ Reseller/ DistributorFinancial services partner distributing CNP life insurance products.
• Vitanuova S.p.A.minorChannel Partner/ Reseller/ DistributorFinancial services partner distributing CNP life insurance products.
• Banca Patrimoni S.p.A.minorChannel Partner/ Reseller/ DistributorWealth management bank distributing CNP life insurance products.

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• UnipolSai: Major Italian insurance group offering life insurance through banking and agent networks, with consolidated bancassurance operations. Competes in CNP Assicura's segments with significant domestic scale.
• Intesa Sanpaolo Vita: Italian bancassurance leader, leveraging Intesa Sanpaolo's massive branch network to distribute life, savings, and pension products. The closest direct competitor to CNP Assicura's multi-bank distribution strategy.
• AXA Italia: Italian arm of AXA, distributing life insurance, savings, and pension products through bank and broker channels. Similar product mix and partnership-led distribution approach.
• Poste Vita: Bancassurance arm of Poste Italiane, distributing life insurance through Italy's largest retail post office network. Parallels CNP Assicura's broad-reach partnership-driven model.
• Zurich Italia: Italian subsidiary of Zurich Insurance Group offering life and investment products through banking partnerships. Comparable bancassurance-led approach with global parent backing.
• Allianz Italia: Italian subsidiary of global insurer Allianz, offering life, savings, and pension products through bank and agent networks. Directly comparable product portfolio and bancassurance strategy.
• BCC Vita: Bancassurance joint venture serving Italian cooperative banks (Banche di Credito Cooperativo). Uses a similar multi-bank distribution model to CNP Assicura's open approach.
• Reale Mutua: Italian mutual insurance company with significant life insurance operations, distributed through agents and brokers. Competes in CNP Assicura's protection and savings segments with a strong domestic heritage.
• Genertellife: Life insurance and pension arm of the Generali group, distributed primarily through Italian banking partners including Banca Mediolanum. A direct bancassurance competitor with comparable product portfolio.

Broad incumbents

• Generali: Italy's largest insurance group, offering life, savings, and pension products across multiple distribution channels. A broader incumbent competing in CNP Assicura's core segments but with much larger scale and brand.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cnp-assicura

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CNP Assicura