The Limited Times

Now you can see non-English news...

Ivass freezes the redemptions of Eurovita policies


IVASS has temporarily suspended, from tonight at 20.00 and until next March 31st, the purchases of the policies of Eurovita spa, a company commissioned by the same authority on January 31st. (HANDLE)

    Ivass freezes the redemptions of the policies of Eurovita, a company commissioned on 31 January, to stem the flight of customers and a possible landslide of capital.

In the evening, the supervisory institute, with a provision published on its website, temporarily suspended, until 31 March, "the right of the policyholders to exercise the redemptions regulated by the insurance and capitalization contracts".

After the zeroing of the top management in recent days and the appointment, as commissioner, of an expert manager of the sector such as Alessandro Santoliquido (former CEO of Amissima), the measure became necessary.

   The seriousness of the provision (comparable to a freeze on bank deposits) is justified by the need to stop the bleeding which risked irreparably aggravating the company's situation and to see clearly the situation of the accounts.

'Salvi' will be those who ask for redemptions and advances on supplementary pensions and on those who have presented redemption requests pursuant to the contractual conditions, prior to the suspension, arranged for tonight (Monday) at 20.00.

   We will now see what will be the future of the company and the moves of the controlling shareholder Cinven which, according to rumors in the press, had put the group up for sale to meet the capital requests advanced by IVASS (there was talk of 150 million EUR).

A possible interest, again according to the specialized press, had come from the Jc Flower fund which would later withdraw the offer.   

Source: ansa

All life articles on 2023-02-06

You may like

Life/Entertain 2023-02-06T19:49:45.951Z
News/Politics 2023-01-24T19:38:26.254Z
Business 2023-01-04T10:59:44.262Z

Trends 24h


© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.