Rescue Efforts Prevent Bankruptcy of Italian Life Insurer Eurovita

The specter of a bankruptcy of the Italian life insurer Eurovita has been dismissed since this weekend. It haunted insurance regulators who are alarmed by the consequences of the rapid rise in rates in Europe. The company, with its 15 billion euros in life insurance outstandings, was one of the first victims.

It will finally be saved by five major insurers and thirty banks. This is the first time that such an operation has been attempted in this sector, the fragility of which has been brought to light by this dossier. Increasingly, savers prefer to put their money in Italian treasury bonds, remunerated around 4%, rather than in life insurance.