Insurers To Boost Access To Financing In Italy

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On 24 June 2014, Governmental Decree n. 91/2014 (the so-called “Competitiveness Decree”) was published in the Italian Official Gazette. The Decree, which aims to foster the growth of Italian companies through the possibility of making recourse to new sources of financing, introduces a new category of assets for covering the technical reserves of life and non-life business classes of insurance companies, which can now also include the facilities disbursed to entities other than individuals and micro companies.

The measure shall become effective only once specific rules outlining the conditions and limits for recourse to such type of investment are issued by IVASS (the Italian Insurance Supervisory Authority).

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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