Italy’s Top Insurers, Banks Reach Accord on Eurovita Rescue Plan

A pool of insurance companies and banks agreed on a deal to rescue the clients of Eurovita Holding SpA, the Italian life-insurance owned by private equity firm Cinven, wrapping up months of talks led by Italy’s regulator.

Eurovita’s contracts will be transferred into a new company that will be owned by Assicurazioni Generali SpA, Allianz SE, UnipolSai Assicurazioni SpA, and the insurance units of Intesa Sanpaolo SpA and Poste Italiane SpA, according to separate statements from Italy’s insurance regulator and involved insurers.

A group of 25 lenders agreed to finance the firm and cover ...