Elenco aggiornato al 31 dicembre 2025 dei conglomerati finanziari italiani

The three Italian supervisory authorities (Bank of Italy, IVASS and Consob), acting under the Memorandum of Understanding signed on 10 February 2025, have refreshed the register of Italian financial conglomerates — groups whose activities are significant in both insurance and banking and/or investment services. Notably, this national list covers only conglomerates containing credit institutions classified as 'less significant'; groups containing 'significant' institutions appear on the joint EBA/EIOPA/ESMA list instead. For compliance teams, the practical consequence is a confirmation exercise: group legal and regulatory functions should verify whether their perimeter falls inside the published list, since inclusion triggers supplementary supervision under Legislative Decree 142/2005.

That regime sits on top of — and does not replace — sectoral prudential requirements, adding group-level oversight of capital adequacy, risk concentrations and intra-group transactions. Firms newly captured should expect additional data requests, group-wide risk reporting and coordination between banking, insurance and securities supervisors. Firms outside the perimeter should document the assessment and monitor the European lists, as classification can shift with changes in balance-sheet mix or supervisory designation.

Action points: confirm group classification; reconcile Italian and EU lists; brief boards on supplementary supervision obligations; review group capital and intra-group exposure reporting; and align supervisory reporting calendars across the three authorities.