The Italian group FIAT is in discussions about selling its insurance subsidiary TORO to Emilio Gnutti financiers(via its HOPA holding) and the insurance company UNIPOL of which Mr Gnutti already holds a stake. The HOPA/UNIPOL merger will provide around EUR 2 bn for TORO, which as been valued at around EUR 2 bn and EUR and 2.5 bn.