Boston, MA -- (SBWIRE) -- 08/17/2012 -- The Italian non-life insurance segment is driven by the motor insurance category, in particular the compulsory third-party liability insurance sub-category. However, the segment was almost stagnant during the review period due to a depressed automobile market which was affected by the global financial crisis and the Euro debt crisis. Gradual economic recovery coupled with the implementation of regulations relating to a more competitive business environment, are expected to result in a positive growth rate for the motor insurance category over the forecast period. Government initiatives for the motor insurance category will provide discounts to consumers who are willing to submit their vehicles to insurance companies for inspection.
- The gradual recovery of the Italian property market, coupled with improving fi ncial conditions, is expected to help drive the growth of the non-life insurance segment over the forecast period.
- The Italian non-life insurance segment remains stable despite the adverse effects of the global fi ncial crisis and variable domestic economic conditions. However, in 2011, the Italian non-life insurance segment registered growth due to the recovery of the motor insurance category. This was possible due to the government initiatives towards liberalizing the Italian motor insurance category.
- The implementation of Solvency II legislation is expected to stimulate consolidation and increase in the number of M&A's over the forecast period.
- The agents channel is the most popular, followed by brokers and direct marketing. The implementation of the Bersani Law liberalized regulations for distribution networks, increasing the competitiveness between channels. The Bersani regulations also introduced a multi-tied agency model, which allowed agents to distribute and work for more than one insurance provider at a time. Despite Italy's highly-developed banking channel, agents are still preferred over bancassurance.
- The leading companies in the segment include Gruppo Generali, Gruppo Fondiaria-Sai, Gruppo Assicurativo Unipol, Gruppo Allianz Se and Gruppo Reale Mutua. The Italian non-life insurance segment comprises both domestic and foreign insurers. As of 2011, there were 139 non-life insurance companies authorized to pursue non-life insurance business in Italy under the supervision of regulatory authority ISVAP.
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This report provides a comprehensive a lysis of the non-life insurance market in Italy:
- It provides historical values for the Italian non-life insurance market for the report's 2007-2011 review period and forecast figures for the 2012-2016 forecast period
- It offers a detailed a lysis of the key sub-segments in the Italian non-life insurance market, along with market forecasts until 2016
Companies Mentioned in this Report: Gruppo Generali, Gruppo Fondiaria-Sai, Gruppo Assicurativo Unipol, Gruppo Allianz Se, Gruppo Reale Mutua, Gruppo Cattolica Assicurazioni, Gruppo Axa, Vittoria Assicurazioni SpA
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