A Berkshire Hathaway-backed Italian insurance company was told by the local regulator to boost its capital, a sign authorities are prepared to press the industry to protect itself from the impact of the coronavirus.

Società Cattolica di Assicurazione — Società Cooperativa, which sells life insurance and other products, said on 1 June that Italy’s insurance regulator had told it to increase its capital by €500m ($555m) by the early fall. The request stemmed from the insurer’s weakened solvency position, it said, a result of the decline in financial markets because of the pandemic.