Italian groups GENERALI (insurance) and BANCA INTESA (banking) are going to set up a joint venture in the life assurance sector. Re-named INTESA VITA, the new company will be a leader in this sector in Italy, with a total of around EUR 3.7 bn in premiums in 2002. 45% will be controlled by ALLEANZA ASSICURAZIONI, life-assurance subsidiary of GENERALI, at 45% by BANCA INTESA and 10% by CREDIT AGRICOLE, the main shareholder in BANCA INTESA.