December 18, 2019 / 6:19 PM / 2 months ago

UPDATE 1-Italian tax police seize documents on ouster of former Cattolica CEO

(Adds statement from Cattolica)

MILAN, Dec 18 (Reuters) - Italian tax police visited the headquarters of insurer Societa Cattolica di Assicurazione on Wednesday and seized documents relating to the sacking of former Chief Executive Alberto Minali in October, a source close to the case said.

In a statement, Cattolica said it was fully committed to cooperating with authorities, adding that the process which led Minali’s exit followed the rules and was transparent.

Minali, previously a top executive at bigger rival Generali , had been leading Cattolica since 2017 but was ousted over differences regarding the company’s structure, strategy, relations with shareholders and the market.

Minali could not immediately be reached for comment.

Warren Buffett’s Berkshire Hathaway has a 9% stake in Cattolica, Italy’s fifth largest insurer by gross premiums, according to calculations by investment bank Mediobanca. (Reporting by Andrea Mandala; Editing by James Mackenzie, Edmund Blair and Giles Elgood)

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