Italian insurance group Unipol has agreed to sell its banking division, Unipol Banca, to BPER Banca for €220 million in cash. The deal will also see Unipol acquire a €1.3 billion portfolio of non-performing loans from BPER for €130 million. The banking unit generated direct income of €10.1 billion in 2018, down from €12 billion the previous year.
