The Antitrust recognizes that there is no longer any link between Generali and Intesa Sanpaolo and therefore removes some restrictions placed at the time of the merger between Banca Intesa and Sanpaolo IMI on the insurance sector. The Authority communicated it yesterday in its bulletin.
The decision also paves the way for the merger between Intesa Sanpaolo Vita and Fideuram Vita and above all for a new business model for the sector, which will no longer be just captive, i.e. products aimed at bank customers, but will open to the outside world.
“Should Intesa Sanpaolo decide to adopt a different model from the current one – wrote the Bank to the Antitrust -, it will evolve into an open distribution model”.
The institute also reiterated to the Authority the final objective of the reorganization of the insurance sector envisaged by the business plan to 2017 which, following the merger of Intesa Sanpaolo Vita and Fideuram Vita, envisages reaching "a critical mass such as to place the Intesa Sanpaolo group in a position to seize opportunities for future growth abroad”.
