Italian regulator tells Cattolica to raise capital to boost solvency

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By David Freitas
01 Jun 2020

The supervisory authority for Italian insurance companies (Ivass) has urged Cattolica Assicurazioni to raise €500m of capital before the autumn, having become concerned about a decline in the company's solvency ratios amid Covid-19.

The supervisor was said to have highlighted the company's "weakened solvency position" in a letter to the insurer on May 27.

Following the latest monitoring exercise on May 22, Cattolica's group solvency ratio stood at 122% of its minimum requirements, down from 147% on March 31.

The solvency ratios of ...

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