Total direct and indirect insurance gross premiums collected by firms based in Italy in 2004 were around $126 billion.  In particular, around $ 86  billion came from life insurance premiums and around $40 billion from casualty insurance premiums. Life insurance premiums grew 4%, higher than casualty insurance premiums (which were relatively stable). Life insurance premiums counted for around two-thirds of total insurance premiums.

Casualty insurance increase was relatively low due to the slow growth of the economy.  On the contrary, total life insurance premiums grew due to major changes involving the Italian pensions market, the deficit of the national pension and health system and the increased importance of the newly created private pension funds.

Nevertheless, according to ANIA, Associazione Nazionale Imprese Assicuratrici (the National Association of Insurance Companies), Italy is still to be considered an under-insured country on the international scene.

In 2005, the situation is expected to be quite similar with a small increase 2% over 2004. In fact, the characteristics of the Italian market have not changed...(continues)

Please note:

This Industry Sector Profile is also part of the more comprehensive
ITALY COUNTRY COMMERCIAL GUIDE 2006.