SWISS LIFE ENDS COLLABORATION TALKS WITH FONDIARIA-SAI

Switzerland-based assurer Swiss Life has ended talks with Italian insurer Fondiaria-SAI about a partnership in Italy, stating that the companies would not “pursue the possibility of a strategic partnership in Italy any further”. Last April Swiss Life said that it would be conducting a feasibility study on the creation of an Italian joint venture. This would have combined the life activities and distribution network of Fondiaria-SAI with the products of Swiss Life. The Swiss assurer now says that it will be withdrawing from the Italian market, although it will continue to offer cover in Italy for its group clients.