AM Best maintains Italy's life and non-life segments at negative

Written by Adam Cadle

31/05/2023

AM Best is maintaining its outlook on Italy’s life and non-life insurance segments at negative.

In its new reports, Market Segment Outlook: Italy Life Insurance, and Market Segment Outlook: Italy Non-Life Insurance, AM Best said the challenging economic environment is likely to remain a significant headwind for Italy’s life and non-life insurers in 2023.

For life insurers, AM Best said economic uncertainty presents a challenge to premium growth, and concentrated asset portfolios have elevated insurers’ investment risk profiles. In addition, rising inflation and geopolitical tensions continue to put negative pressure on the segment.

For the non-life sector, it said factors such as the heightened level of inflation, the European Central Bank’s contractionary monetary policy, geopolitical tensions and the overall volatility in financial markets continue to put negative pressure on the segment.

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