Generali and Natixis Agree on Asset Management Joint Venture -- 2nd Update

By Elena Vardon Italy's Generali and the owner of France's Natixis are set to combine their asset management operations to create a European giant overlooking 1.9 trillion euros ($1.979 trillion) in assets. The Italian insurer and French retail bank Groupe BPCE signed a preliminary deal underpinned by 15-year contracts to form a joint venture they will each own a 50% of. Generali operates asset management activities through its Generali Investments Holding arm, which it bolstered through the acquisition ...