Italy is ready to intervene on changes to the ownership structure of its insurance companies to ensure its economy and citizens benefit from savings allocation decisions, Economy Minister, Giancarlo Giorgetti, said.
Addressing the annual meeting of ANIA, the country’s main insurance and reinsurance trade organisation, Giorgetti said “the Government will play its part…by not remaining indifferent, if needed, to changes in ownership structures”.
Giorgetti emphasised that savings collected by insurers could be invested to boost Italian competitiveness, employment and growth.
The remarks appear as a warning shot over the future of the country’s top insurer Generali, caught in the crossfire from takeover moves in the financial sector, and long seen as strategic, given its role in managing hundreds of billions of euros of Italians’ savings.
