Updated:
Eurovita
Eurovita is an Italy-based insurance organisation founded in 1989. It offered insurance products, investment solutions, savings, and retirement planning...
Overview
Eurovita is an Italy-based insurance organisation founded in 1989. It offered insurance products, investment solutions, savings, and retirement planning services. Eurovita's focus was on the agribusiness sector.
General information
Firm type
Insurance
Year founded
1989
Location
Region
Europe
Country
Italy
City
Milan
Corporate office
Milan, Italy
Additional offices
Rome, Italy
Principals
Alessandro Santoliquido
Special Commissioner
Sector focus
Frequently asked questions
Who stepped in to rescue Eurovita's policyholders?
Five major Italian insurers — Generali, Intesa Sanpaolo Vita, Poste Vita, UnipolSai, and Allianz — created a new entity called Cronos Vita Assicurazioni S.p.A. to absorb Eurovita's policy portfolio, protecting roughly 350,000 policyholders from losses.
What role did Cinven play in Eurovita's trajectory?
Private equity firm Cinven acquired Eurovita from JC Flowers & Co. in 2017 and pursued an acquisition-led consolidation strategy targeting Italian life insurance portfolios. Cinven ultimately committed to buying back Tier 2 bonds held by GIC as part of the 2023 restructuring negotiations.
How is Eurovita's situation different from a standard insurance insolvency?
Eurovita was not technically insolvent but faced an acute liquidity crisis from the mismatch between policyholder surrender options and illiquid bond holdings. IVASS used administrative powers to freeze redemptions and broker a private-sector rescue, testing Italy's resolution framework for the first time at this scale.
What assets did Eurovita hold prior to the administration?
Eurovita's portfolio consisted primarily of Italian government bonds and Tier 2 bank bonds, along with a book of traditional savings and unit-linked life insurance policies sold through Italian banking channels. The firm also maintained corporate offices in Milan and Rome.
Profile maintained by Altss. Updated: . To correct this record or make a privacy request, send the page URL and your evidence to privacy@altss.com; corrections are free.
Need institutional-grade insight on investors?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: