Italian insurance giant Assicurazioni Generali SpA could become Banca Popolare di Milano’s next life insurance partner, Il Messaggero reports Friday, without citing its sources.
Generali and the bank have held preliminary talks about a possible partnership which would see the insurer buying 51% of the bank’s Bipiemme Vita unit, the newspaper says.
Popolare di Milano is expected to hire Rothschild as an adviser to help it find a partner by next Tuesday, it says.
