MILAN (Reuters) – Unlisted Italian banking group Iccrea Banca expects to pick out a number of companions for its insurance coverage enterprise by the top of the 12 months, Director Normal Mauro Pastore stated on Saturday.
Chatting with reporters on the sidelines of the yearly Assiom-Foreign exchange monetary markets affiliation assembly, Pastore stated Iccrea had invited bids from potential companions for each its life and non-life insurance coverage companies.
“We’re analysing the non-binding proposals we have obtained … and anticipate to get to a shortlist by the top of the primary half, to then decide within the second half,” he stated.
Pastore stated Iccrea had initially deliberate to pick out only one accomplice that would spend money on its insurance coverage enterprise, however based mostly on the gives obtained to date it was now open to deciding on two companions, one for the life and one for the non-life enterprise.
“There’s a number of curiosity. We’ve 2,400 branches and there may be room to extend each the life and safety insurance coverage protection of our clients.”
(Reporting by Valentina Za and Andrea Mandala; Modifying by Keith Weir)