MILAN (Reuters) - Italian insurance group Unipol (>> Unipol Gruppo Finanziario SpA) said on Tuesday it had agreed to proceed with exclusive talks with Germany's Allianz
In a statement, Unipol and its main operating unit UnipolSai (>> UnipolSai Assicurazioni SpA), said the agreement would be formally completed by March 15.
The assets belong to Unipol's Milano Assicurazioni unit.
Unipol agreed to buy its troubled rival Fondiaria-SAI in 2012 in a complex rescue deal that created Italy's second-biggest insurer.
To clear the deal, which was finalised in December, the Italian antitrust authority has imposed the sale of a portfolio of assets with premiums worth around 1.7 billion euros.
(Reporting by Stephen Jewkes, editing by Isla Binnie)