ITALIAN NON-LIFE INSURANCE SECTOR IS STABLE- A.M BEST

A.M Best has a stable outlook on the Italian non-life insurance market.
The sector has a good record of technical profitability, which is expected to be maintained in the medium term.
A.M Best estimates that over the period 2012 to 2016 inclusive, its non-combined ratio averaged 94% which compares favorably with that of other European countries.
Strong competiton is putting pressure on rates for motor business, which represents about half of the market’s total premium income but increased use of telematics is supporting better claims experience and reducing fraud.
Prospective performance is anticipated to benefit from insurers’ increased focus on profitability lines of business outside the motor market, which should contribute to maintain the sector’s combined ratio of around 95%.

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