UPDATE 1-Fiat says not in talks to sell Toro insurance


(Releads with Fiat denial of talks) MILAN, Nov 21 (Reuters) - Italy's Fiat denied a report on Thursday that the industrial group was in talks to sell its profitable Toro insurance arm to beef up a plan to pull clear of losses piled up by its core car-making unit. Italian papers reported Fiat was open to selling Toro, and Il Sole 24 Ore said the group was already in talks with possible buyers including German reinsurer Munich Re . Il Sole said Toro was worth at least 2.5 billion euros ...

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