GamaLife to acquire stake in Banca Macerata and enter long term Bancassurance Agreement

Lisbon, 22 October 2025. GamaLife strengthens its existing partnership with Banca Macerata with a contribution to a planned capital increase for the bank resulting in a stake participation of nearly 10%. At the same time, a long-term agreement was signed between the two institutions for the placement of life insurance policies and pension products.

This announcement represents a significant step forward in the growth plans of both parties, confirming GamaLife’s increasingly widespread presence in the Italian market. This acquisition follows the purchase in 2022 of a business unit of Zurich Investments Life, including a portfolio of over 180,000 existing life insurance and pension policies.

GamaLife’s flexible and cost-effective operating model allows it to establish partnerships geared towards long-term value creation. As such GamaLife will capitalise on Banca Macerata’s growing presence in the Marche region and its determination towards an increasingly bancassurance-oriented service model.

For Matteo Castelvetri, CEO of GamaLife, “This partnership with Banca Macerata represents another milestone in GamaLife’s international growth strategy, which began with the acquisition of Zurich’s life portfolio in Italy in 2022. We continue to invest consistently in the European insurance market, strengthening our presence in strategic geographies and establishing alliances that create long-term value for our customers.”

The capital increase is subject to the authorisation of the relevant regulatory authorities and Banca Macerata shareholder approval.

About GamaLife

GamaLife is a pan-European life insurance and wealth management platform founded in 2019, operating primarily in the areas of technology and sustainability.

In December 2024, GamaLife was the fourth-largest life insurance group in Portugal, with a market share of almost 7%. In the ranking of the largest insurance groups in Portugal, GamaLife ranked eighth.

As of December 2024, the company’s assets under management totalled 7.8 billion euros in Portugal and Italy.

GamaLife’s mission is to serve the end customer in their protection and savings concerns, to serve the distribution channels with levels of service excellence, and to consolidate the business and its organisational structure, adding value for shareholders and employees.

For more information, see www.gamalife.pt or contact:
Hugo Real | hugo.real@h-advisors.global | 927 997 948 (Press) 
Lourenço Galvão | lourenco.galvao@h-advisors.global | 910 127 228 (Press)
investidor@gamalife.pt (Investidores)