Elderly care homes: the experience of Cattolica Assicurazioni
“Elderly care homes, the search for a sustainable model for sector development”, was the central subject of the conference organised by UBI Banca in Milan. The conference saw discussions between the main actors in over 65s insurance in the symbolic setting of the Basilica of Sant’Ambrogio cloisters.
The insurance world’s perspective was presented by Salvatore Ciccarello, the General Director of Cattolica Immobiliare, who described the experience of Cattolica Assicurazioni. With Innovation and Health, the first real estate fund dedicated to elderly care formed with Coopselios, Cattolica is working on two lines of business from the 2018-2020 Business Plan: the planning and distribution of an innovative offer for senior citizens and real estate investment in the care sector.
“The elderly care home sector”, explained Ciccarello, “is not only an investment opportunity that guarantees long-term stability, it allows Cattolica to implement its characteristic social vocation, creating synergy with the world of care services and large segment of the population that today, and increasingly so in the near future, will require care, health and assistance.”
During the conference, the first elderly care home report by UBI Banca was presented. The report was prepared with support from Duff & Phelps REAG and Legance - Avvocati Associati, partners in the real estate and legal sector. In addition to offering a snapshot of the sector’s current situation, the analysis covered future scenarios from a care, financial, real estate, insurance and non-profit perspective, in light of the socio-demographic development of the population, the nuclearisation of families (increasingly smaller and more independent family units), and the need to surpass traditional habitation patterns.