Assicurazioni Generali SpA's (G.MI) co-chief executive Sergio Balbinot said Tuesday that the existing distribution agreement with German lender Commerzbank AG (CBK.XE) hasn't changed.

In a phone interview, Balbinot said that from Generali's point of view, "nothing has changed."

When asked to comment on a press report, according to which Generali asked Germany's finance minister to test the waters for a possible continuation of the existing bancassurance agreement with Commerzbank after the scheduled 2010 deadline, Balbinot declined to comment.

The German state now holds a stake of 25% plus one share in Commerzbank. The government has said it won't seek to influence Commerzbank company policy despite ownership of the stake.

-By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906; sabrina.cohen@dowjones.com