Eni has established a new captive insurance firm, Eni Energy Italy, which marks the third captive to be domiciled in the country.
The captive, Eni Energy Italy, has been approved by IVASS, the italian institution for insurance regulation, to write out non-life insurance and reinsurance classes.
This authorisation comes after a request was put in by Eni to IVASS on 22 May 2024.
Permission has now been granted for the company to carry out insurance activities in the following non-life insurance class areas: ship and aircraft vehicles, goods in transit and fire and natural forces, among other sectors.
Speaking to Captive Insurance Times on the establishment, a company representative says: “Eni has a wholly owned insurance and reinsurance company, Eni Insurance DAC, which is being redomiciled from Ireland to Italy for operational efficiency. Once the transfer is completed, this new company will manage Eni's insurance and reinsurance business.”
