RESHORING CASE

Vittoria Assicurazioni

Company details
Code: 
Vittoria
Company name: 
Vittoria Assicurazioni
Company country: 
Italy
Sector: 
K - Financial and insurance activities
Sector detail: 
K65 - Insurance, reinsurance and pension funding, except compulsory social security
Sub-sectors: 
K65.1.1 - Life insurance
K65.1.2 - Non-life insurance
Reshoring details
Reshoring announcement date: 
02/08/2016
Starting implementation date: 
August, 2016
End of Implementation : 
December, 2016
Reshored to: 
Italy
Location code: 
IT
Reshored business function: 
Administration
Partial or Total reshoring: 
Total
Reshoring governance mode: 
In house (in own facilities)
Reasons for reshoring: 
Firm's global reorganization
Loyalty to the home country
Need for greater organizational flexibility
Case narrative: 

Vittoria Assicurazioni is an Italian company that has been working in the insurance sector for almost one century.
Currently the company has decided to backshore its controlling holdings from the Netherlands to Italy in order to simplify the control processes in a bid to streamline the organization.
The backshoring involves Yafa Holding and Vittoria Capital that are going to be relocated to italy.

Yafa Holding controls 82% of Vittoria Capital, which has a 61.15% of Vittoria Assicurazioni. 

Sources: 

MilanoFinanza, 02/08/2016

Sources link: 

http://www.milanofinanza.it/news/vittoria-ass-torna-in-italia-dall-oland...

Offshoring details
Offshoring location: 
Netherlands