Home » Eurovita, green light for redemptions from 31 October

Eurovita, green light for redemptions from 31 October

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Eurovita, green light for redemptions from 31 October

The possibility of redeeming Eurovita policies is now available. From next October 31st, the insurance company’s customers will be able to request redemptions of their policies, frozen since February 6th by Ivass due to the financial problems of the group, which was then saved by a pool of insurance companies with the participation of the banks. The new era for Eurovita will begin under the new name of Cronos Vita (controlled by Generali, Intesa Vita, Unipol, Poste Vita and Allianz). Under this guise the company will start operating again, will be recapitalized and will regain solidity again. October 31st will be the moment when the 400 thousand savers involved in the affair will be able to request the redemption of their old policies if they wish. The certainty is that they will get back 100% of the amount invested. The move was decided to regain confidence in the market.

The confirmation of the date, states the Codici association, emerged following this morning’s meeting between Ivass and consumer associations. “We were expecting answers – declares Ivano Giacomelli, National Secretary of Codes – and they have arrived. There have been months of great anxiety and great fear for savers. From this morning’s discussion it emerged that customers will be able to request the redemption of the policy starting from 31 October and that the technical redemption times will be guaranteed in 30 days. The requests will follow a chronological order, even if Ivass is studying possible exceptions for fragile categories. The authority has made various commitments also at our request: it will monitor the selection, on the fact that the contracts, once passed from the newco directly to the group companies, are not modified with worsening contractual conditions. Ivass has also undertaken to monitor and contact the participants of the newco so that the contractual conditions are made public of the new company for the part that concerns consumer conditions. Clearly we will continue to monitor the situation, which is moving towards the key phase, i.e. the transition to the new company. Above all, we will verify that the commitments announced are respected, moving from words to deeds.”

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