Italy's insurer HDI Assicurazioni has launched Easy PIR, an individual savings plan investing in sustainable Italian companies that aims at increasing capital in the middle to long term.
The underlying fund HDI-PIR Sostenibile, that may invest both in bonds and stocks,will look for companies, mainly Italians, that focus on product innovation, energy efficiency, and seek for high corporate and social responsibility.
Integrate Srl is an independent firm that will be responsible for issuing the ESG rating used to deliver the investment screening of the equity part.
The premium will be divided into a Segregated Management for its 25% guaranteed capital and the 75% will be invested into a Unit Linked.
Fabio Rogato,deputy managing director of HDI Assicurazioni, said: "We wanted to offer our customers a product that envisaged the possibility of combining profitability and tax benefits, without sacrificing the theme of sustainability. We have therefore created Easy PIR, demonstrating the attention that HDI Assicurazioni places in the study of products that are alongside its customers".
Italy's individual savings plan (piani individuali di risparmio or PIR) offer investors a way to avoid the 26% tax on investment income if they commit to save up to €30,000 a year during five years. There is no minimum investment required. Savers can withdraw funds early but they would lose the tax advantage.