Carlo Cimbri

Chairman

Carlo Cimbri is the Chief Executive Officer and General Manager of the Unipol Group and Chairman of the subsidiary UnipolSai Assicurazioni S.p.A.

The Unipol Group – with over 13,000 employees, €16.5bn in insurance income in 2015 and over 16 million customers – is one of the key industry players in Europe and is the leader in the Non-Life business in Italy.
 
Born in Cagliari in 1965, after earning a degree with honors in Economics from the University of Bologna, Cimbri has had over 20 years of experience in the insurance and banking sector. He joined Unipol, Finance and Treasury Area, in 1990 and over the years covered roles of increasing responsibility until he became one of the General Managers of the Unipol Group in 2005, when it ended the fiscal year with premium income of €8.9bn.
 
In 2006, Cimbri conducted the sale of the BNL stake to BNP Paribas thereby archiving the assumed strategic diversification of Unipol in the banking sector. In 2007, he became the sole General Manager and in 2010, after taking office as Chief Executive Officer, he launched the Business Plan 2010-2012, which refocused the Group on the insurance business, with a significant recovery in profitability in the Non-Life sector, a major streamlining of costs and capital strengthening.
 
The acquisition of control over the Arca Group (2010), the merger of Navale Assicurazioni into Unipol (2010) and the sale of the stake held in BNL Vita (2011) were completed throughout the three-year period.
 
In January 2012, when at the end of the business plan all preset targets had been exceeded, Unipol – at a particularly difficult time for the Italian economy – submitted a proposal to rescue the Fondiaria-SAI Group through a merger with Unipol Assicurazioni and a major capital strengthening, leading to the birth of UnipolSai Assicurazioni, the leading company in the Non-Life sector in Italy with premium income of €13.9bn (as at 31/12/2015).
 
The three-year period 2013-2015 was marked by the industrial integration with the former Fondiaria-SAI Group: Group companies were halved in number (from about 120 to about 60), computer systems were unified, the corporate and shareholding structure was simplified going from 4 to 2 listed companies and from 8 to 2 classes of shares, all of which with substantial industrial synergies, safeguarding employment levels and creating value for all stakeholders.
 
In May 2016, Unipol presented the business plan up to 2018, focused on innovation and efficiency, with the goal of assuring sustainable profitability over time through a program of actions aimed at strengthening the Group’s leadership position in the Italian insurance market.
 
Cimbri currently also holds the office of Director of RCS Media Group, Nomisma, Euresa Geie and is a member of the Executive Board of the Censis Foundation, Centro Studi Investimenti Sociali (Research center on social investments) and FeBAF (Federazione delle Banche, delle Assicurazioni e della Finanza, Italian Banking, Insurance and Finance Federation).
Last updated:Sep 27 2016