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From enforcement to dissolution. The unexpected final chapter of “the life” of “a life” insurance company
Andrea Battista
Abstract
The purpose of this article is to argue and discuss the reasons and the context of Eurovita 2023 enforcement and final expected dissolution, the pros and cons of the solution scheme designed and implemented, potential alternatives in similar situations and – finally and, as usual, most important – which lessons can be learned from the whole story. The interests and the approach of the analysis are essentially in economic, financial and business terms. The deep cause of the crisis was the combination of financial turmoil - fast and sudden increase in interest rates in a situation of unbalanced ALM - plus the governance of Eurovita. The solution found has been ad hoc, overall fit to the situation, tailor made, even creative. The Italian taxpayer – at last – has not been hit at all by the solution found and this was not to be taken for granted.
Keywords:
insurance, crisis, Eurovita, failure, life insurance, crisis management, resolutionJEL Codes
G22, H12Details
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This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.