Società Cattolica di Assicurazione Società Cooperativa : The Board of Directors examines IVASS’ findings and starts working on the remedy plan

Verona, 17 January 2021. Cattolica Assicurazioni informs that the Board of Directors, which met today under the chairmanship of Paolo Bedoni, examined the findings reported by IVASS in its inspection report and Supervisory report, both delivered to the Company on 8 January 2021, and began drafting the remedies plan requested by the Authority, which will be prepared promptly and under the responsibility of the Chief Executive Officer, Carlo Ferraresi.

The Board of Directors also took note that the Chairman, Paolo Bedoni, and the Deputy Vice Chairman of the Appointments Committee offered to step back from their role, although this is provided for by the Articles of Association. And this with a view to starting the transition to the new joint-stock company regime, as indicated by the Supervisory Authority, also taking into account the preliminary investigation function carried out by the same Committee for these purposes.

The Board, having assessed the de facto situation resulting from these waivers, within the framework of the statutory provisions, also those provisions that will soon enter into force, as approved by the Members and authorized by the Authorities, confirmed the reduced composition of the Committee, however compatible with the continuation of its operations, and identified among the remaining directors, Eugenio Vanda, independent director, as Chairman, to ensure the normal and transparent functionality of the body and the necessary continuity.

Lastly, the Board took note of the resignation made by the director Luigi Castelletti on January 14, 2021.