This section contains the Register of undertakings licensed to pursue insurance and reinsurance business on the territory of the Italian Republic and the Register of parent companies. These Registers are kept using the new IT procedure “Register of Insurance Undertakings and Groups” (RIGA).
The Register of undertakings – also called “Register of Insurance Undertakings” - contains the essential data for identifying registered undertakings, including the details of the authorization for the pursuit of insurance and reinsurance business. It is subdivided into specific sections according to the type of business pursued. Information is organized in a way that supports searches using different keywords.
The specific Appendices to the Register contain the list of insurance and reinsurance undertakings with head office in another country of the European Economic Area (EEA) licensed to carry on business in Italy under the right of establishment or the freedom of services. These undertakings are subject to the solvency controls by their Home Supervisory Authority.
ISVAP Regulation No. 10/2008 lays down the arrangements for the keeping of the Register, its update and disclosure. The lists of EEA undertakings are updated by IVASS only on the basis of the communications sent by the Home Supervisory Authorities.
The pursuit of insurance or reinsurance business without authorization/registration in the relevant registers is subject to criminal sanctions.
The Register of parent companies – also called “Register of insurance groups” - shows the details of the Group.
The Register contains the list of parent companies and their subsidiaries:
- insurance and reinsurance undertakings
- instrumental companies
- insurance holding companies and mixed financial holding companies
IVASS Regulation n. 22/2016 lays down the requirements relating to the keeping and updating of the Register.
The Letter to the market of 19 February 2020 launched the “parallel operation phase” of the new IT RIGA procedure for the management of the identifying data, introducing new arrangements for the collection of information from supervised entities, in accordance with the provisions of the current rules.
9 April 2021