IVASS identifies Assicurazioni Generali S.p.A. as an Internationally Active Insurance Groups (IAIG)
On 14 November 2019 the International Association of Insurance Supervisors (IAIS) adopted a coordinated set of prudential supervision standards with the aim of making the supervision of cross-border groups more effective and harmonized thus contributing to the global financial stability.
This set of standards constitutes the so-called Common Framework (ComFrame) which is based on the Insurance Core Principles (ICP) and expands their content by establishing minimum supervisory principles and criteria for the supervision of Internationally Active Insurance Groups (IAIG). The ComFrame also incorporates a set of standards and guidelines introduced with the adoption of the Holistic Framework for Systemic Risk in the Insurance Sector (so called Holistic Framework).
The group-wide supervisors have committed themselves to publicly identify the IAIGs having the parent company located in their jurisdiction in order to provide greater transparency on the scope of the standards contained in the ComFrame.
IVASS has identified Assicurazioni Generali S.p.A. as an IAIG, following the size and internationally active criteria provided by the ComFrame itself (CF 23.0.a).
- Issue date
- 12 May 2020