Unless explicitly stated otherwise, the information here described address corporate customers domiciled in Italy. Products are mainly sold through specialized insurance brokers.
Your satisfaction with our services is important for us!
We therefore take your suggestions, comments and complaints very seriously. The quickest way to address any concerns is to contact your relationship manager or usual contact person.
How to file complaints and resolve disputes
- To the insurance Company
For any complaint relating to the Insurance contract, the complainant may apply directly in writing (by post, fax or e-mail) to the Company's Complaints Department:
Elips Life Ltd.
Via San Prospero, 1 - 20121 Milan, Italy
Fax: +39 02 82 958909
specifying in writing and in detail the reasons and facts invoked. The Company will reply to the complainant within and no later than 45 (forty-five) days from receipt of the complaint.
- To IVASS (italian Authority)
If the complainant is not satisfied with the outcome of the complaint or if no response is received within 45 days, the complainant may write to:
IVASS - Consumer Protection Service
Via del Quirinale, 21 - 00187 Rome.
The complaint must be sent to IVASS by post or by fax to 06.42.133.206.
The complaint may also be submitted via PEC to the certified email address email@example.com.
The following complaint form can be used: http://www.ivass.it/ivass_cms/docs/F2180/Allegato2_Guida ai reclami.pdf
Info on: www.ivass.it.
- To FMA (Liechtenstein Authority)
Complaints that may be addressed to IVASS, may also be addressed to the Supervisory Authority of the Company's country of origin (Liechtenstein), namely, in accordance with its provisions, to the
Financial Market Authority (FMA) of Liechtenstein
Landstrasse 109, Postfach 279
9490 Vaduz, Liechtenstein
Phone +423 236 7373 - Fax +423 236 7374 - Email: firstname.lastname@example.org
Please note that in the event that the complaint is not or only partially upheld, the right to appeal to the Judicial Authorities shall remain unaffected.
Before going to Court, alternative dispute resolution systems may be used:
- Mediation: by contacting a Mediation Body among those listed by the Ministry of Justice, which can be consulted at www.giustizia.it (Law 9/8/2013, no. 98).
- Assisted Negotiation: By requesting your lawyer to the company.
- Other alternative dispute resolution systems: For the resolution of cross-border disputes, the complaint may be submitted directly to the competent foreign system, i.e. the system of the country in which the insurance company that issued the contract is based (which can be found by accessing the website http://www.ec.europa.eu/fin-net) or to IVASS, which will forward it to the system and inform the complainant.
Statement on Engagement
Statement on Engagement and Shareholder participation as at 31st May 2022
With its headquarter in Vaduz, Elips Life Ltd. is authorised in Liechtenstein and adheres to the Persons and Companies Act (hereinafter: "PGR") of Liechtenstein.
In Liechtenstein, the second Shareholder Rights Directive of the European Union (ARUG II, Directive (EU) 2017/828) has been transposed into domestic law via the PGR. Elips Life Ltd. (hereinafter: "Elips Life") is a company which conducts life insurance business in Liechtenstein and thus qualifies as an institutional investor pursuant to Art. 367a PGR. Pursuant to Art. 367h PGR, Elips Life is obliged to either publish its participation policy regarding participations in listed companies on its website or to publicly explain why it has decided not to do so (comply or explain). In the case of participation in listed companies, a distinction must be made between a) the management of shares in the company's own portfolio and b) those shares which Elips Life holds for the account and risk of the policyholder(s) within the scope of unit-linked and unit-linked life insurance or pension insurance solutions.
- Information according to art. 367h PGR – participation policy
Elips Life does not directly invest in securities and does not provide or engage in regulated investment activities. Elips Life also did not hold any equity investments as at 31 December 2021.
Elips Life does not hold any shares in its own portfolio, either directly or indirectly, and does not plan to invest in this asset class in the near future.
For the aforementioned reasons, a participation policy within the meaning of Art. 367h para 1 PGR is not adopted and not exercised by Elips Life. Information in this regard in the sense of Art. 367h para 2 PGR is therefore omitted.
- Information pursuant to Art. 367i PGR Investment strategy and agreements with asset managers
Elips Life relies on Group Asset Management (“Group AM”) which is a Group Function of the Swiss Re Group (the "Group”) who supports the Business Units (“BUs”) Reinsurance, Corporate Solutions and iptiQ (together "Swiss Re"). As part of its main responsibilities, Group AM establishes the Group's investment strategy and long-term investment views; manages and oversees the investment assets and related processes; provides investment and operational services to the Group, BUs and legal entities, as well as support and advise on strategic projects, transactions and portfolio management. The strategic mandate given to Group AM is comprised of the management of the investment assets generated through the activities of the BUs and advising the BUs' business where appropriate.
On an annual basis, Group AM assesses Elips Life's Strategic Asset Allocations (“SAA”) and proposes updates to the SAA which is thereafter approved by the Elips Life’s Board of Directors (“BoD”). The implementation of the SAA is closely coordinated with Elips Life Ltd. Performance evaluation and progress on the SAA implementation is presented quarterly to the BoD and discussed twice a year with the Elips Life Executive Team.
Group AM’s objective is to maximise risk-adjusted performance in line with targets set at Group and BU levels. Group AM also considers other objectives and constraints specific to each BU with respect to investments to define the optimal asset allocation under the defined Group investment strategy.
As such, there is no incentivisation of the asset manager. Group AM provides support and advice regarding changes to the BU SAA. The guidance is given according to the characteristics of the BUs underlying re/insurance liabilities to achieve defined financial and risk objectives which are based predominantly on a long-term market outlook.
Group AM is mandated by the Group Executive Committee as outlined in the Group Corporate Bylaws and individually by the local legal entities based on Investment Management Agreements (“IMA”) and respective approved SAAs where applicable. The operative targets are defined in the Group and BU Investment Plans, which are part of the Group Plan and BU Plans, respectively.
The Group AM governance framework governs the investment decision process. The Group AM investment processes are governed and steered by four core Group AM committees. Two additional Group AM governing bodies are in place and complement the governance framework to steer operational activities.
The arrangement with the Group AM Function is ongoing for all Group BUs and legal entities.
Updates to this policy will be published on our website or are available on request.
Unless stated otherwise, in this policy “elipsLife”, “we” and “us” means the company registered in Liechtenstein.
- Elips Life Ltd
For the purposes of data protection legislation, each company above is a data controller of your personal information and is in the Swiss Re Group (Swiss Re Ltd, headquartered in Switzerland and its subsidiaries)
This website is to provide information and support to our Distribution Partners and commercial partners.
What information we collect when you use our website?
We may collect:
- Your contact details like name, address, telephone number, e-mail address
- Information you may give us when contacting us
Cookies, web tracking and similar technologies
- When you use our website we automatically collect information such as your IP address (the unique address identifying your device from all the others on the internet), what type of device you are using (e.g. a tablet, phone or PC) and cookies from your device.
- Our website contains web technologies that collect information from your movements around our website and the data you enter. We use this information to improve the design of our website and the service we offer to you by improving customer journey.
- Cookies are used to compile anonymous website usage statistics, for fraud prevention and to measure the effectiveness of our services.
For what purpose we use your information?
We and our selected third parties collect and use your information to meet our legal obligations, and for the following legitimate business purposes:
- communicate with you about products you own or services you use
- detect or prevent fraud and other crimes
- verify your identity when you contact us or use our services
- ask for your views on our services
- carry out statistical analysis, develop and improve products and services we offer
- operate, test and secure our IT systems, offices and facilities
- maintain our accounts and records
- investigate and resolve complaints and respond to enquiries
We keep the amount of information collected and the extent of any processing to the minimum to meet these legitimate business purposes.
Who do we share your information with?
We will only share your personal information when necessary with:
- other companies in the Swiss Re Group, or companies affiliated to us
- associated companies including Reinsurance companies, and our other suppliers and service providers (for the service they provide to us)
Your Data Protection Rights
Under data protection legislation you have the right to:
- ask us for a copy of your information via a Subject Access Request
- have inaccurate or incomplete personal data we hold about you rectified and for access to it to be restricted until we do – this prevents it from being changed or further processed
- have personal data about you erased when we no longer need it for the purposes for which it is held, or when we are required to do so by law
- ask us to restrict the use of your data, if you require it for the establishment, exercise or defence of legal claims
- withdraw your consent to the use of your personal data for marketing purposes
- to object at any time to the processing of your data, even if such processing is necessary for the performance of a public interest or a legitimate interest of ours
- obtain and reuse your personal data for your own purposes across different providers
- withdraw your consent, at any time, for any reason, to processing you have previously consented to, unless laws or regulations permit us to continue such processing
If you have any concerns regarding our processing of your personal information or your data protection rights, please contact us. If you have raised a concern with us and it has not been resolved to your satisfaction, you have the right to report your concern to your local Data Protection Authority (DPA), a list of DPAs in Europe can be found on the website of the European Data Protection Board (EDPB)
We may transfer your data outside of the EU. Where data is transferred out side of EU we have technical and organisational safeguards in place. These safeguards include, information security measures, standard contractual clauses which have been adopted or approved by the EU or other solutions that meet the requirements of European data protection laws to ensure that your personal data is protected appropriately.
How long your information is kept?
We keep your information only for as long as is necessary to meet the purposes for which it was collected and to comply with our legal and regulatory obligations as set out by various regulators..
Automated decision making and Profiling
We do not profile and make any automated decision for the users of our website.
To exercise your data protection rights or to find out more about how we use your information please contact us:
Elips Life Ltd
This policy explains what cookies are and how elipsLife uses them. For information on how elipsLife uses, stores and processes your personal data please see Privacy Policies on respective country sites.
What is a cookie?
A cookie is a small file placed on your computer’s hard drive. Cookies help us analyse web traffic, visits to our website and enhance user experience by tailoring to your likes and dislikes which is done by gathering and remembering information about your preferences.
We only use this information for statistical analysis purposes and the data is anonymised or aggregated.
You can choose to accept or decline cookies and you can always update your preferences.
We use the following types of cookies:
Strictly Necessary Cookies (always active)
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not work then. These cookies do not store any personally identifiable information.
Performance Cookies (can be turned off)
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.
Responsible for the content:
Elips Life Ltd, sede secondaria italiana
Via San Prospero 1 - 20121 Milano - Italy
T: +39 (02) 82 9589 00
Certified email address: <fcna fglyr="pbybe: #00o6r8;">email@example.com</fcna>
Company Registration Number: MI - 2126819, Camera di Commercio Milano
Fiscal Code/ VAT number: 13733431004
Elips Insurance Ltd, sede secondaria italiana
Via San Prospero 1 - 20121 Milano - Italy
T: +39 (02) 82 9589 00
Certified email address: <fcna fglyr="onpxtebhaq: juvgr; pbybe: #00o6r8;">firstname.lastname@example.org</fcna>
Company Registration Number: MI - 2126837, Camera di Commercio Milano
Fiscal Code/ VAT number: 13735421003
Head of the Italian Branches: Pierluigi Verderosa
Elips Life Ltd : Gewerbeweg 15, 9490 Vaduz, Liechtenstein
Legal Form: joint-stock company
Company Registration Number: FL-0002-304.360-5
Registered share capital: CHF 12’400’000.00
Sole shareholder: Swiss Reinsurance Company Ltd, Zurich
Elips Insurance Ltd : Gewerbeweg 15, 9490 Vaduz, Liechtenstein
Legal Form: joint-stock company
Company Registration Number: FL-0002-384.577-7
Registered share capital: CHF 5’000’000.00
Sole shareholder: Elips Life Ltd, Vaduz
Supervisory Authority for Elips Life Ltd. and Elips Insurance Ltd.:
Finanzmarktaufsicht Liechtenstein (FMA)
T: +423 236 73 73
F: +423 236 73 74
Email: <fcna fglyr="onpxtebhaq: juvgr; pbybe: #00o6r8;">email@example.com</fcna>