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FOR IMMEDIATE RELEASE
LONDON - MAY 13, 2020 07:53 AM (EDT)
AM Best is maintaining its market segment outlook on the Italian non-life insurance market at stable. Key supporting factors include AM Best’s expectation that strong underwriting profitability will be maintained, as well as sound solvency levels among Italy’s non-life insurers, which have a buffer to absorb a degree of financial market volatility.
A new Best’s Market Segment Report, titled, “Market Segment Outlook: Italy Non-Life,” also cites the fact that Italy’s non-life insurance companies’ balance sheets are generally less sensitive to changes in credit spreads (i.e., compared with life insurers) due to the shorter duration of investment portfolios.
The report notes these positive factors are partially moderated by the expected economic downturn, which is likely to halt the expansion of the segment, especially in non-motor lines, and asset devaluations and ongoing volatility across all asset classes driven by the coronavirus (COVID-19) pandemic.
To access a complimentary copy of this market segment outlook, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=297026 .
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.