Italians demanded control of the joint insurance business with VTB

Italian insurance group Generali would like to receive 51 percent of a joint project with the Russian state bank VTB. This statement was made CEO of Generali, Giovanni Perisinnotto (Giovanni Perissinotto), according to Reuters. According Persinotto, the parties hope to conclude a deal "soon", reports Dow Jones. He added that another participant in the project can become Ingosstrakh, but more on this subject has refused to talk. May 16 VTB President Andrei Kostin said the bank intends to become a leader in the Russian insurance market. Costin explained, this Organization, in particular, consider collaboration with a group Generali. Italian insurance group is the three largest insurance companies in Europe. In February 2011 Generali became the anchor investor in the offering of shares of VTB. In the markets of Central and Eastern Europe, Generali operates through Generali PPF Holding - a joint venture with a Czech investment group PPF. This, in turn, owns shares " Ingosstrakh. On the Russian market are also two "daughter" Generali PPF Holding - "Generali PPF general insurance" and "Generali PPF life insurance." VTB has already have a unit engaged in insurance business - "VTB Insurance". In 2010, the company took 18 on the list of Russian insurers. Source: Lenta.ru