MILAN Dec 3 Generali, Europe's
third-largest insurer, said on Tuesday the group had not
received any notification regarding reports of a tax probe in
German bank Commerzbank, a long-standing
commercial partner of Generali, said on Tuesday its offices were
searched as part of an investigation into the sale of wealth
management products "disguised" as tax-efficient life insurance
German financial daily Handelsblatt cited industry sources
as saying that the probe was focused on Italy's Generali and
that investigators expect to find evidence of tax evasion in the
hundreds of millions of euros.
"We note today's reports in the media. We confirm that
neither Generali Pan Europe nor any other entity in the Generali
Group has received any notification by any authority relating to
these reported allegations," Generali said in a statement.
(Reporting By Lisa Jucca)