Italian insurers liable for losses if sovereign defaults
Italian insurers’ may be prevented from passing losses incurred in a sovereign default onto policyholders, if the return on customer portfolios is below the minimum guaranteed, according to Fitch.
Based on its 'A+'/Negative rating of Italian sovereign debt, Fitch believes that Italian government bonds are a low default risk.
However, in the "extreme scenario" of a sovereign default, insurers
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