Still complicates the way for savings eurolife. Apparently MF-Milan financeAttitudes between banks and insurance companies to the bailout will still be a long way off, despite some progress compared to the past few weeks.
The gist is potential early refunds in connection with the natural expiration of policies that customers may require once the block provided by IVASS has been removed. If Banks sat at the table (about fifteen in all with Fineco, Fideuram, Credem and Sparkasse Leader) seems aware of the need to bear this burden on Eurovita policies that he distributed in their subsidiaries, through intervention methods that called for positions with the five major insurance companies in this field (Intesa Vita, Poste, Generali, Unipol and Allianz) Looks different today.
The question is not so much how much the banks should guarantee, which equals roughly 6 billion in a separate department (the theoretical account that would be obtained if all customers redeemed their policies first), but the cost of the process. Given the high interest rates, the institutes could have asked companies a rate of 2.5% on the liquidity they would have to provide for early redemptions (starting with the yield on the underlying securities). In other words, insurance companies must add a yield to the yield of the securities on which the policies that the banks would receive in the event of surrender are based, to exactly 2.5%. But a clear rejection of this hypothesis would have come from the companies.
Also because insurers would already have to take responsibility for potential refunds of another 3 billion policies distributed outside bank branches., as well as the Eurovita employees to be appointed to the five companies and the capital needed to take over Eurovita’s policies. Meanwhile, time is running out. Coverage will be released at the end of June, and the match could be a test of the system’s credibility in front of the 400,000 involved Eurovita customers and beyond.
Did you find this news interesting?
“Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff.”