The aim of both Authorities is to organise collaborative relations to improve coordination and more effectively pursue the aligning interests of the two Institutions.

On Monday 25^th of November, Roberto Rustichelli, President of the Italian Competition Authority, and Luigi Federico Signorini, President of the Insurance Supervisory Authority (IVASS), signed a new Memorandum of Understanding.

The aim is to enhance coordination and to improve the effectiveness of developing and maintaining sufficient levels of competition in the insurance market alongside consumer protection. The agreement renews and supplements the two previous ones, from 2013 and 2014.

This new Memorandum oversees the coordination of institutional actions, focusing specifically on collaboration in sector inquiries and joint initiatives on competition and consumer protection; preparing reports for Parliament and the Government; fostering the exchange of opinions; and promoting scientific and personnel training initiatives.

The Memorandum also regulates the reciprocal reporting of cases in which, in the context of proceedings within their respective competences, emerge infringements of provisions for the enforcement of which is responsible the other Authority.

The two institutions will be able to cooperate in the field of inspection, also using the competent Special Units of the Italian Financial Police (Guardia di Finanza).

Rome, 29 November 2024