Fiat ready to sell off Toro insurance unit-reports

Newswire

MILAN, Nov 21 (Reuters) - Italian industrial group Fiat is ready to sell its profitable Toro insurance arm to raise money to help its historic carmaking unit through a crisis, Italian newspapers reported on Thursday. Financial daily Il Sole 24 Ore said Fiat had already started talks with potential buyers and named German reinsurer Munich Re as one of the most serious contenders for Toro, which it said was worth at least 2.5 billion euros ($2.51 billion). Corriere della Sera reported ...

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