Ivass

IVASS, or the Istituto per la Vigilanza sulle Assicurazioni, is the Italian supervisory authority responsible for overseeing the insurance sector and related activities in Italy. Its mandate includes ensuring the stability, solvency, transparency, and proper conduct of insurance markets, and protecting policyholders in line with European Union rules.

IVASS was established in 2011 as part of a reform of Italian financial supervision, consolidating the functions of the former ISVAP (Istituto di Vigilanza sulle Assicurazioni Private e di Previdenza Complementare) and the pension fund supervisor COVIP into a single regulator. The agency is headquartered in Rome and operates under the oversight of the Ministry of Economy and Finance.

The authority’s remit covers life and non-life insurance, reinsurance, and the activities of insurance intermediaries. It is responsible for licensing insurers, supervising their solvency and financial condition, approving regulatory frameworks, and enforcing compliance. IVASS also engages in consumer protection efforts, market transparency, and the dissemination of information to policyholders.

In its governance structure, IVASS is led by a President and a Governing Board, with a general director and various departmental units. The agency conducts prudential supervision in line with Solvency II requirements and participates in broader European and international supervision networks. It collaborates with other national authorities and participates in EU-level regulatory processes to harmonize insurance regulation across member states.

IVASS publishes supervisory reports and statistics and provides guidance to industry participants and the public on regulatory expectations and best practices.