The presence on market for some years of new operators of 'managed saving' such as insurance 
companies has increased the savers' opportunities to choose. The increase in competition brings indubitable advantages not only to customers the but also to firms, which find new sap from the need of reckon with an ever bigger number of competitors. In an important branch as the assets management is to succeed in competition the enterprises must count on finacial steadiness and, on the other side, on the ability to plan and realise new financial products able to satisfy the different requirements of customers. Indeed in the ever more complex financial panorama, it grows every day the research concerning modern and flexible solutions that allow to diversify investments and savings, with the “obvious “ purpose of aiming the better results. Following these guidelines the Toro Assicurazioni has realised the Toro InQuota, a new product joining together the typical advantages of a life policy with the ones featuring a customized assets management. Toro InQuota is a policy Unit linked kind, that is it is linked to Separated Management, divided into shares, internal to the company, whose asset is invested in Unit Trusts The possibility to link to different typologies of unit trust allows selecting different degrees of “risk “ following perspectives of shorter or longer period return. Toro InQuota allows taking advantage of two assets management carried out internally: the first one with the Fondo Toro Azionario Globale, with a share component equal in average to the 70% of the assets and so featured by a high risk level; the second one with the Fondo Toro Bilanciato Globale where the securities component, equal in average to the 
70% of the assets, gives this employ a more prudent connotation. Nevertheless since the personal propensity to risk can vary with time, Toro InQuota has left the faculty for the contracting party to convert the shares in his possession and concerning a certain unit trust, into shares of another Unit Trust among those available. Such faculty can be exercise at any moment since from the first anniversary of the policy. (The first transfer is gratis, while for the followings it is applied a forfeit cost of Lit. 100.000).- Another important aspect to take into account is that such management, that are global type, that is they are directed to the whole international market and not only to the home one, savers can participate to with contained investments, quite minor than the amounts required by financial operators to be admitted to an Assets Management in Unit Trusts. Indeed to adhere to Toro InQuota, the less investment required is 10.000.000 millions, that after expenses and subscribing costs are invested in share of the Internal Trust. The valorization of shares for both unit Trusts is realised every week, and more exactly the third working day, that has been defined the “valorization day”. So to easily make this value available for all, it is foreseen to issue it daily on the “Il Sole 24ore”. So a further warranty of visibility and transparency in the tradition of the Toro Assicurazioni. Toro InQuota, besides, has typical characteristics of a life policy :the amounts paid are tax deductible, obviously within the limits imposed by the normative on force and liquidated capital, in case of death, is death duty-free. It is to underline that liquidated capital, in case of death, will never be less than the gross premium paid even in the case of a temporary negative trend of the Unit Trust. The duration of Toro In Quota policies is equal to the years it takes to reach, by the insured party, a certain age, variable according to the Unit trust selected (75 years for the Fondo Azionario, 85 for the Bilanciato). At the contract expiring it is possible either to continue the investment or to receive the capital that is equal to the value of the possessed shares, or to convert the capital into one of the annuities foreseen for all life policies. Even in the case of demand of redemption, total or partial before expiring, it is liquidated the value of the shares, without any penalisation. The redemption demand can be introduced since the expiring of the first year. Introducing Toro InQuota, the Company has enriched its offer of investments. The attention the Toro since ever dedicates to its customers finds a wide prove in the data of Toro Group that, in '98 preliminary results increased of the 45% the premium collecting field, exceeding 6 thousand billions. And it is just in the so-called life insurance branch the Group has reached the best result. The raising has grown of the 135% as regard to the year before, a data awarding the adopted directives and that points out the appraisal the market reserves it.

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