Regulator Q&A - Isvap talks sovereign default and Solvency II
Italy has the ignominious achievement of being dubbed one of the ‘Piigs’, and therefore a potential sovereign worry. But Flavia Mazzarella, vice-director general of Isvap, the Italian insurance regulator, says the industry is not affected by this uncertainty, nor the prevailing low interest rate environment. Theodora Tsentas reports
Life & Pension Risk: The Italian insurance sector escaped relatively unscathed from the global financial crisis - is the same true of the sovereign debt crisis?
Flavia Mazzarella: From a financial stability perspective, the Italian insurance sector has definitely been able to withstand the recent sovereign turmoil - in fact, the results from the impact of the crisis have been quite positive. However, we are aware that the challenges have not ended completely and we continue to be alert - mainly
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