Italian insurers...
... 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.