... are solidly capitalized and will not need state aid, according to Giancarlo Giannini, head of regulator Isvap. Newspaper La Repubblica cited the executive as saying that “Italian insurers are in a better position than other European insurers” because of a more severe regulatory regime. Mr Giannini said that Italian insurers avoided possible losses of €8bn ($10.1bn) after the regulator banned “toxic” products from index-linked policies in 2003.
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