The Italian Institute for Insurance Supervision issued a market warning after receiving reports of possible surety bond policies purportedly issued in the name of Lucura Versicherungs AG, clarifying that the insurer does not issue surety policies to third parties outside its corporate group in Italy. Lucura Versicherungs AG is a Germany-based insurer supervised by Germany’s Federal Financial Supervisory Authority (BaFin) and is authorised to operate in Italy on a freedom of services basis in several non-life lines, including class 15 surety. On 2 June 2025, both Lucura and BaFin informed IVASS that Lucura operates in Italy exclusively as a captive insurer for the BASF industrial group, and this information has been reflected in IVASS’s insurance undertaking register (RIGA) since 4 June 2025. IVASS urged users to exercise caution and verify that quotes and contracts are linked to duly authorised insurers and intermediaries by consulting the relevant registers and warning lists published on its website.
Italian Institute for Insurance Supervision (IVASS) 2025-06-10
Italian Institute for Insurance Supervision warns that Lucura Versicherungs AG does not issue surety policies to third parties
IVASS warned about surety bond policies allegedly issued by Lucura Versicherungs AG, clarifying that Lucura doesn't issue such policies outside its corporate group in Italy. Lucura, a Germany-based insurer supervised by BaFin, operates in Italy only as a captive insurer for the BASF group. IVASS advises verifying insurer authorizations through its registers and warning lists.