The word from MAWDY for you;
MAWDY, MAPFRE’s assistance subsidiary, and Vittoria Assicurazioni, the eighth-largest Non-Life insurance company in Italy by premium volume, have signed a significant service provision alliance in Italy, expanding the scope of the commercial agreement they first initiated in 2011.
Specifically, the alliance will be executed through a series of transactions focused on becoming service leaders in the country. Service quality levels provided by insurers are a critical element of how well customers rate their relationship.
On the one hand, Vittoria will purchase 49,9% of MAWDY Services Italia, one of the companies through which the company operates in the country offering automotive services.
MAWDY will take a 49,9% holding in Vittoria’s service startups through a new joint venture, called Vittoria Servizi Legali that holds ComeStai and Easy Legal companies specialized in the provision of Health and Legal services respectively.
The alliance also includes the acquisition of 1.4% of Vittoria by the MAPFRE Group.
MAWDY Services Italia will continue consolidating within MAPFRE and will maintain all its activity in Italy that is not related to the joint venture. Vittoria will consolidate the revenue of the new joint venture in its accounts.
With the mentioned operations MAWDY and Vittoria Assicurazioni will hold a leading position as a product distributor and a service platform in the Italian market.
“This new agreement enables us to continue creating innovative and customized proposals for our customers in Italy. And we’re going to do it hand in hand with our trusted Italian partner, with whom we’ve enjoyed great success over the last 10 years,” says Leire Jiménez, CEO of MAWDY.
“With this agreement Vittoria Assicurazioni confirms its strong partnership with MAWDY, based on shared values such as the quality of the offer and attention to the Client, and significantly accelerates the important strategic path undertaken by the Company in the services sector. The ultimate goal is to provide the Client with an increasingly complete and efficient ecosystem, capable of responding to different needs and expectations”, says Cesare Caldarelli, CEO at Vittoria Assicurazioni.
The new partnership is subject to initial approval by the European Union competition authorities.
MAWDY and Vittoria have been working together in Italy since 2011, offering services and underwriting reinsurance contracts for roadside assistance, home assistance, travel insurance, and health claims management. In September 2023, they established their first 50-50 joint venture, GENYIO, which focuses primarily on providing personalized auto and assistance services.
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