Mario Greco, Chief Executive of Assicurazioni Generali S.p.A. said that it received non-binding offers for BSI SA and Generali USA Life Reassurance Company. Greco said, "I am not sure that we will have closed all the sales by the end of the first quarter. We are talking of a few months." According to analysts, potential suitors for Generali USA include Munich Re, Swiss Re, Zurich, Scor, Hannover Re, RGA and Bermuda based hedge funds and reinsurers.

Two people familiar with the talks said that Safran SA is believed to have made an offer for BSI. Reuters said that Safran was not immediately for comments. The people added that Julius Baer Group Ltd. did not make an offer for BSI.

Bankers said that Carlyle, KKR, Apollo and Apax could be interested in BSI. Earlier, Il Sole24 had reported that Julius Baer, Royal Bank of Canada, Apax Partners LLP and an Asian investor had made offer for BSI. Il Sole24 also added that Berkshire Hathaway, ACE, Swiss Re, Munich Re and Hannover Re are as possible suitors for Generali USA.