the policy portfolio will be divided into five – Corriere.it
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The hub of unit linked policies
The stew should not include unit-linked policies, for which discussions are being held on the possibility of keeping them in Eurovita, at least until the end of 2023. The feasibility of this operation remains to be verified and above all the timing which is currently uncertain. it is also probable that the freeze on redemptions will not end on June 30, as initially announced, but will go on for at least another month or arrive until September. Carlo Piarulli, head of the Credit and Finance department of Adiconsum, explains that even once the blockade ends, there will no longer be advice for those who do not have urgent liquidity needs to avoid the rush to redeem the policy and continue with the contract in order to avoid losses returns that would be inevitable at a time when inflation is still high.
On the ransoms the near solution
Also on Wednesday 7 June, at the Ministry of Economy and Finance, there was a discussion between the insurance companies involved, the distributing banks (including Credem, Sparkasse, Fineco and Fideuram) and the ministry’s technicians. During the meeting Generali, Intesa Vita, Poste, Unipol and Allianz confirmed their willingness to take part in the Eurovita bailout plan, provided that the banks are willing to grant credit lines for policy redemptions. Smaller institutions However, they need to protect themselves by applying for financing from the largest banks at reasonable rates. Otherwise they could not cope with the situation. In recent days this had seemed to be one of the most difficult issues to resolve, but from what emerged from the meeting at the Mef, the agreement could be close.
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