UniCredit SPA and Fidelis Insurance Ireland DAC (Fidelis), in cooperation with Qualis Europe, have signed a new SRT (Significant Risk Transfer) transaction on a portfolio of Italian residential mortgage loans.
At the end of December 2021, UniCredit SPA structured a new synthetic securitization under the ARTS (Asset Risk Transfer Sharing) program, targeting a €0.6bn seasoned portfolio of performing Italian residential mortgage loans already granted by the Bank to private customers.
In the transaction, Fidelis Insurance Ireland DAC offers credit protection.
The transaction allows UniCredit SPA to optimize the risk-return profile of the loan portfolio, sharing the risk in selected asset class with Fidelis.
For UniCredit SPA, in the context of the new plan "UniCredit Unlocked", the transaction is also the first ever focused on residential mortgage loans and involving the Insurance sector.
Milan, 14 March 2022
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