Italy’s Generali is bidding to buy TUA Assicurazioni, a non-life firm worth 300 million euros ($335 million).

The acquisition of TUA was part of Cattolica’s acquisition two years ago.

German insurance giant Allianz, Talanx, and France’s Groupama are potential bidders.

Itas is listed as one of up to five second-round bidders.

Talanx may drop out if it wins an auction to sell the insurance division of Italian cooperative banking company ICCREA.

Generali opened TUA’s virtual data room to potential bidders.