Unipol restructures insurance operations

Italian financial services provider Unipol is to transfer
group-owned insurance businesses to its separately listed insurance
division.
It forms part of a wider restructuring that includes the
creation of a "bad bank" to house soured loans.
The plan was approved by the company's board yesterday. It
also includes the transfer of a 98.5 percent stake in health
insurer Unisalute for EUR715.0mn ($815.8mn), and of motor and
non-life carrier Compagnia Assicuratrice Linear for EUR160.0mn to
its 51 perc