Intesa Sanpaolo, an Italian banking group, completed the acquisition of a controlling stake in RBM Assicurazione Salute, a health insurance provider, from Favaretto family's RBH Group for $334m. "This transaction will allow us to accelerate development of the non-life sector and brings us closer to our business plan objectives. We will be able to offer RBM's health guarantees to Intesa Sanpaolo's retail customers and welfare products and collective policies, including tailored products, to companies. We will take full advantage of the opportunities for cross-selling, by offering new services from all our companies, and make our commercial offers even more efficient in new market segments. Intesa Sanpaolo RBM Salute will be a centre of excellence, able to offer a qualified consulting service to all customers, especially on a market such Italy's, where the ratio between brokered insurance and direct private spending is lower than the European average," Nicola Fioravanti, Intesa Sanpaolo CEO.