SOLVENCY SFCR HIGHLIGHT
The new European regulatory system called Solvency II regulates the solvency of insurance companies operating in the Member States. Legislation defines a set of capital requirements and risk management and requires the publication of an annual report on solvency and financial status (SFCR), the specific content of which is provided by primary legislation and related implementation measures issued In a European and national context.
Intesa Sanpaolo Vita S.p.A., as the Parent Company of the Insurance Group Intesa Sanpaolo Vita, has made use of the option provided by art. 216 novies paragraph 2 of the Italian Private Insurance Code and art. 36 of the IVASS Regulation no. 33/2016 (Ivass: Italian Institute for the Supervision of Insurance) setting up the Consolidated Report referring to the Insurance Group. The Consolidated Report includes information at Group's level and information relating to each of the insurance companies included in the Group, as required by law.
In particular, the report includes the following 5 sections:
- Activities and results
- Governance System
- Risk profile
- Valuation for Solvency purposes
- Capital management