Assicurazioni Generali and Commerzbank could be just two weeks away from agreeing a deal to co-operate more closely, according to a source close to the talks.

Generali, the Italian insurer, currently has a 5% stake in Commerzbank, and it is believed that the stake may be increased to 10%. The extra 5% could cost Generali about $800m (€886m), although the insurer refuses to comment on the likelihood of any deal.