Brussels, 16/12/2003 (Agence Europe) - The European Commission has approved the plan to create a joint venture between the Italian groups Assicurazioni Generali and Banca Intesa. The operation was decided in the context of reorganising various bank-insurance activities currently carried out by Generali and Banca Intesa. With reorganisation, Generali will take joint control of Intesa Vita, a company hitherto controlled only by Banca Intesa. Intesa Vita is active in the "bank-insurance" sector where it distributes life insurance products through the agencies of Banca Intesa. Products at stake are mainly life insurance standardised products, with a large financial component. The Commission considers that the change in the status of this company will not cause any major problems for competition, either at national or at local level, because Generali is already market leader in this very dynamic market in Italy and because the partnership with Banca Intesa will only change the situation slightly.