Agreement reached on Eurovita

Category

Undertakings

Description

IVASS takes note of the agreement reached by five major insurance companies and 25 distributing banks to resolve the Eurovita crisis, announced today. Based on the agreement, Eurovita's policies will be transferred to a newly established entity owned by the five companies.

By Order No. 0159483 of June 30, 2023, IVASS ordered, pursuant to Article 188, paragraph 3-bis, letter b), of Legislative Decree No. 209 of September 7, 2005, the extension of the effects of the suspension of the policyholders’ right to exercise surrenders regulated by insurance and capital redemption contracts entered into with Eurovita SPA.

The extension is necessary for the orderly transfer of policies. It covers the period until October 31, 2023, to prudentially take into account the possible lead time required to carry out the transfer

issue date

30 June 2023