Italian total life and non-life premium income was €143.4bn in 2020, a decrease of 4.3% compared to 2019, according to Italy's IVASS.
The impact of the COVID-19 pandemic was significant in H1 2020 (-9.2% compared to the same period of the previous year) with a recovery in H2 2020 of 0.5%.
Premiums written in the life sector decreased by 5.3% in 2020 to €105bn. Furthermore, new business in the life sector fell by €5.8bn (-7.4%) compared to 2019.
Non-life premiums also decreased, falling by 1.6% to €38.4bn.