Assicurazioni Generali S.p.A. says it’s received authorization from the Italian insurance regulator to use a partial internal model to calculate its Solvency II capital requirements.
Trieste, Italy-based Generali said Tuesday that the Istituto per la Vigilanza sulle Assicurazioni granted its approval to use the model to calculate its solvency capital requirements for the group as well as its main Italian and German insurance companies, its French non-life companies and its Czech company, Ceska Pojistovna A.s.
The approval is retroactively effective to Jan. 1, the date on which Solvency II, the risk-based capital regulatory regime for insurers and reinsurers in Europe, went into effect.
Generali said it would provide more information when it publishes its 2015 results on March 18.
(Reuters) — French corporate raider Vincent Bollore is making his influence felt in corporate Italy by defying the country's old guard in choosing a replacement for Mario Greco as CEO of Assicurazioni Generali S.p.A.