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Revo Insurance
Legal Proceedings Report • Feb 5, 2025
4376_iss_2025-02-05_e1d82975-db3b-41c8-9b25-e6813db800b1.pdf
Legal Proceedings Report
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Press Release
REVO Insurance obtains authorisation to adopt USP parameters
Positive 44 percentage point impact on the Solvency II Ratio
Verona, 5 February 2025 – REVO Insurance S.p.A. announces today that it has obtained authorisation from IVASS, pursuant to Article 45-sexies, paragraph 7, of the Private Insurance Code, to use Undertaking-Specific Parameters ("USPs") and Group-Specific Parameters ("GSPs") for the Credit and Suretyship classes, starting from the solvency assessment as at 31 December 2024. USPs are specific criteria, calibrated to REVO's portfolio, which are used to calculate the Solvency Capital Requirement (SCR) and replace the market criteria defined by the Standard Formula.
For indicative purposes, it should be noted that the Solvency II ratio at 30 September 2024, redefined on the basis of the new parameters, is 240% compared to 196% calculated on the basis of the standard formula.
The Solvency II ratio as at 31 December 2024, therefore, will be calculated on the basis of the new parameters, duly updated on the full year results.
The adoption of these parameters results in a better representation of the Company's risk profile, in a context of consolidated capital strength.
NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN
ABOUT REVO
REVO Insurance S.p.A. (www.revoinsurance.com) is an insurance company based in Italy, listed on the Euronext STAR Milan market and active in non-life insurance with a focus on specialty lines and parametric risks and mainly oriented to the SME sector. REVO Insurance is an innovative and cutting-edge player, with an entrepreneurial formula that leverages technological leadership to optimise and make the risk underwriting and claims management process more efficient and flexible – including through the use of blockchain technology – and with a strong ESIG vocation as a key part of its strategic orientation.
REVO Insurance S.p.A.
Registered office: Viale dell'Agricoltura 7, 37135 Verona Operational headquarters: Via Monte Rosa 91, 20149 Milan Via Cesarea 12, 16121 Genoa tel.: +39 02 92885700 | Certified email: [email protected]
FOR MORE INFORMATION, PLEASE CONTACT:
REVO Insurance S.p.A.
Investor Relations Manager Jacopo Tanaglia tel.: +39 045 8531662 | [email protected]
Communications & ESG Director Marica Cammaroto tel.: +39 335 1557142 | [email protected]
Media Relations Incontra - Studio Cisnetto Enrico Cisnetto | Gianluca Colace tel.: +39 06 4740739
This press release is available on the Company's website and on