Italy probes Lombard International Assurance in €500m tax evasion case 

Mark Battersby
clock • 1 min read

Milan's public prosecutors office has completed an investigation into Luxembourg headquartered Lombard International Assurance (LIA) over allegations of tax evasion and money laundering as part of a wider ranging crackdown on other insurance companies.   Italian newspaper Sole 24 Ore had reported the investigation last week and Reuters separately cited two judicial sources in its subsequent story.   LIA, which was acquired in 2014 for €399m by US investment fund Blackstone Group, will pay €52.7m to the Italian tax authorities to settle a dispute related to "non-compliant" life policie...

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