Board of Directors

The Board of Directors is a collegial body made up of the President and two Directors.

The Directors are chosen among persons of unquestioned integrity and independence and of a high level of expertise in insurance matters, appointed by decree of the President of the Republic upon a resolution adopted by the Council of Ministers at the initiative of the President of the Council of Ministers, acting on a proposal from the Governor of the Bank of Italy and in agreement with the Minister of Economic Development.

It is the body responsible for the general administration of IVASS, without prejudice to the functions assigned to the Joint Directorate by the Statute.

It is competent for the management, organisational and accounting aspects: it adopts the organisational regulation and the other regulations governing the operation of IVASS; it defines the organisation chart; it examines and approves the draft budget and the balance sheet; it implements the guidelines and the strategic directions of the Joint Directorate.

In the exercise of its functions the Board of Directors pursues the objective of reducing the functioning costs of IVASS, also through optimisation of the use of human, financial and technical resources, by using the instruments for management control and performance appraisal.

The resolutions are taken by majority vote; in the event of a tie the President has the casting vote.

Each of the two Directors is appointed for a term of office of six years, renewable once.