Reuters reveals Italy’s Banco BPM picks Credit Agricole for non-life insurance talks

Reuters shed light on how Banco BPM has picked its top investor, Credit Agricole, to start exclusive talks over a non-life insurance partnership. The French bank, which holds 9.2% of Banco BPM, has trumped a rival bid by insurer AXA in a deal which sources have said is expected to be worth around 300 million euros.