BIT:UNIInsurance
Does Unipol (BIT:UNI) Using €2 Billion Subordinated Debt Quietly Reshape Its Risk–Reward Profile?
In mid-January 2026, Unipol Assicurazioni S.p.A. completed two fixed-income offerings totaling €2.00 billion, issuing subordinated notes and fixed-to-floating rate subordinated unsecured perpetual notes priced at 100% of principal.
By tapping the subordinated and perpetual bond markets, the insurer appears to be actively managing its capital structure and long-term funding mix.
Next, we will examine how this €2.00 billion subordinated capital raise could influence Unipol Assicurazioni’s...