Lessons from the Eurovita case. The Mef is thinking of an insurance guarantee fund
11 months ago
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The insurance sector, unlike the banking sector, does not have crisis management tools. In addition to saving the company, the Ministry of the Economy is also concerned with finding tools to intervene in situations at risk, to protect customers
Every Treasury Minister has his own fish to fry. If Daniele Franco, who was head of the Mef during the Draghi government, managed Montepaschi as the thorniest financial match, Giancarlo Giorgetti has been grappling with the Eurovita case for weeks, which presents at least a reputational risk for the financial system. Even if it was the Ministry of Enterprise and Made in Italy, led by Adolfo Urso, who placed Eurovita into extraordinary administration by freezing the surrender of policies until 30 June for 350,000 customers, it is Giorgetti who has held the agenda of meetings with insurance companies to verify their willingness to participate in the rescue. Something is moving, in the sense that the positions would be composing around the hypothesis of a capital increase which would involve five companies, Intesa Vita, Poste Vita, Generali, Unipol and Allianz.
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