UnipolSai Assicurazioni, one of the largest non-life insurers in Europe, has opened an office in Dublin.

The venture represents UnipolSai Assicurazioni's first venture into reinsurance and the first time it has launched its brand outside its home market of Italy.

The new undertaking will mainly target property and liability business in continental Europe.

UnipolRe Ltd which said it has assets of more than €500 million says it will offer tailored reinsurance coverage to small and medium-sized insurance companies throughout continental Europe for a number of risks including third party liability business. Coverage may be structured on a proportional or a non-proportional basis.

Marc Guy Victor Sordoni, the CEO of UnipolRe, said: "As our parent group's first venture outside of the Italian market, this represents an historic moment for the company. It was an important decision for the Group to make this move but thanks to the relevant current market share in Italy combined with the incentives Solvency II provides, it is made it a natural one.

In Association with

"The fact is our parent company has great expertise in certain lines, in particular third party liability and property business. We believe we can offer insurers very specific and tailored solutions thanks to this expertise, knowledge and database in these types of business. Our clients will also be working with us with the confidence that we are owned by a very large financial group with very deep pockets should abnormal unexpected claims arise."