MILAN (MF-Dow Jones)--Fondiaria-SAI (FSA.MI), Italy's largest
non-life insurer, expects its first-quarter results to beat the
fourth quarter of 2009, with full-year 2010 likely to be better on
year, its chief executive said Wednesday.
"Results of the first quarter will be better than the ones of
the fourth quarter of 2009," Fausto Marchionni said on the
sidelines of an event. The company will report its full-year
results in March.
When asked for a comment on press reports regarding a possible
Axa SA (AXA) interest in taking over the insurer, Marchionne said:
"The company is unwilling to be a takeover target."
Last week, Italian press reports said Fondiaria-SAI could be a
possible takeover target for Axa, which declined to comment.
-By Alessandro Mocenni with MF-Dow Jones and Sabrina Cohen, Dow
Jones Newswires; +39 02 5821 9906; sabrina.cohen@dowjones.com