The Bank of Italy, the Institute for Insurance Supervision (IVASS) and the National Commission for Companies and the Stock Exchange (Consob) have updated Italy’s financial conglomerates list for groups whose banking institutions are all classified as less significant. Generali, whose predominant activity is insurance, is the only group listed as of Dec. 31, 2025. The group was already subject to supplementary supervision, and IVASS remains its coordinating supervisor.
Supplementary supervision complements sectoral oversight by monitoring capital adequacy and risks across the conglomerate as a whole, taking account of links between its insurance and banking or other financial activities. The national list excludes conglomerates with significant banking institutions. The European Supervisory Authorities publish a broader list covering conglomerates with significant and less significant institutions.