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.

The board of Italy's top insurer Generali has approved a memorandum of understanding (MoU) that paves the way for an asset management deal with BPCE's Natixis Investment Managers to crate a European champion,

Under the terms of the tie-up, BPCE and Generali Investments will combine their asset management operations in a 50-50 joint venture, people familiar with the situation said. A non-binding preliminary agreement could be reached as early as next week. It would still need to be approved by the relevant unions and authorities.

MILAN: The investment committee of Generali has given its green light to the Italian insurer’s planned asset management deal with Natixis Investment Managers, two sources close to the matter say.

The investment committee of Generali has given its green light to the Italian insurer's planned asset management deal with Natixis Investment Managers, two sources close to the matter said late on Sunday.

Generali and BPCE have signed a non-binding Memorandum of Understanding (MoU) to create a joint venture between their respective asset management

Assicurazioni Generali SpA and Natixis SA are close to a deal for a joint venture in asset management to cut costs and team up on distribution, according to people familiar with the matter.

Italy's top insurer Generali aims to reach a preliminary accord with Natixis Investment Managers to combine their asset management operations in order to submit the deal to its board on Jan. 20, two people close to the matter said.

Italy's Generali (BIT:GASI) and France's Natixis Investment Managers are set to join forces to create a new European asset manager overseeing €1.9 trillion ($1.979 trillion).

Generali and Natixis (BPCE group) on Tuesday signed a non-binding memorandum of understanding to create a European asset management giant that will have 1.9 billion euros in assets under management and 4.