MILAN (Thomson Financial) - Alleanza Assicurazioni SpA has renegotiated the
terms of its Intesa Vita bancassurance venture Intesa Sanpaolo, the daily Il
Sole 24 Ore said Saturday.
The distribution of profits has been renegotiated to favour Intesa, the
newspaper said, citing comments by Alleanza CEO Ugo Ruffolo.
"We expect higher premiums and, for us, a lower profitability per unit but
still above 10 pct, which is our cost of capital," Ruffolo was quoted as saying.
This could help to renew the partnership, which expires in 2009, it said.
danilo.masoni@thomson.com
dm/vs
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