SAN LAZZARO DI SAVENA, Italy (Reuters) - Italy’s Unipol Group (UNPI.MI) has no plans to shorten the chain of command of the country’s second-biggest insurer, its Chief Executive said on Monday.
“There’s no plan... because there’s no need to do it,” CEO Carlo Cimbri said at a shareholder meeting of the group’s main insurance unit UnipolSai (US.MI).
There has been press speculation Unipol might decide to merge its insurance unit.
Unipol Group controls around 53 percent of UnipolSai.
Reporting by Stephen Jewkes, editing by Giulia Segreti