Italy Breaks Ground With First Securitization of Personal Injury Claims

Italy has seen its first-ever securitization of personal injury claims, a deal that could open a new frontier for litigation funding in continental Europe.

Centotrenta Servicing, an Italian securitization servicer active since 2012, closed the transaction earlier this month on a portfolio of more than 500 retail claims tied to medical malpractice, road accidents, and workplace injuries. The target pool carries a projected value of €70 million, with annual issuances expected to scale the platform to €150 million in fundraising and deployment over the next five years.

The structure channels compensation rights—arising under contractual or tort liability—into asset-backed securities purchased by professional investors. In contrast to prior Italian securitizations linked to mass tort or consumer claims, the notes here were placed exclusively with domestic investors: family offices and holding companies tied to prominent entrepreneurial families.

Advisory roles were split: CBA Studio Legale e Tributario handled the legal aspects of the issuance, while the law firm Clini Bastianelli will oversee monetization procedures. Portfolio selection and claim management fall to Prontodanno.it, a specialized platform within Libra Claims, which employs a scoring methodology derived from banking models to vet and monitor cases.

Francesco Consoli, CEO of Prontodanno.it and Libra Claims, said the transaction represents the fourth Italian litigation finance securitization completed in 2025 and the first to focus squarely on single personal injury claims. “For the first time, the noteholders are exclusively Italian investment holdings and family offices: a strong signal of the growing interest in this asset class,” Consoli noted.

Centotrenta Servicing CEO Raffaele Faragò framed the deal as both a capital-markets innovation and a social efficiency tool. “The transaction demonstrates how advanced financial instruments can support the compensation system while, at the same time, offering professional investors diversified investment opportunities backed by robust legal and operational safeguards,” he said.

For litigation funders, the deal underscores how securitization techniques—long applied to corporate loan pools, insurance receivables, and consumer finance—are migrating into the litigation claims market. By standardizing retail injury claims into investable securities, Italian arrangers are testing investor appetite for an asset class historically considered too fragmented and risky for institutional scale.

If annual issuances materialize as planned, Italy could become a proving ground for the securitization of individual tort claims—an evolution that may influence claim aggregation strategies and funding models in other European jurisdictions.