Generali ends discussions with BPCE over asset management joint venture

Written by Michael Griffiths

12/12/2025

Generali has ended its negotiations with French banking group BPCE over establishing a joint venture in asset management.

The pair had been in discussions since January after signing a non-binding memorandum of understanding (MoU) to create a joint venture between their respective asset management operations.

Generali revealed that it had discussed applicable consultation processes with the relevant stakeholders, in line with the processes and governance frameworks of each group.

However, the Italian insurer confirmed that the pair have now jointly taken the decision to terminate negotiations, stating that the conditions to reach a final agreement are “not currently present”.

“Both groups maintain their commitment to the development of a thriving financial industry with globally competitive European champions contributing to the region’s economic success,” a Generali statement said.

Related Articles