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FOR IMMEDIATE RELEASE
AMSTERDAM - MAY 31, 2023 09:00 AM (EDT)
AM Best is maintaining its outlook on Italy’s non-life insurance segment at negative.
In its new Best’s Market Segment Report, “Market Segment Outlook: Italy Non-Life Insurance,” AM Best says the challenging macroeconomic environment will continue to be a headwind for insurers in 2023. Factors such the heightened level of inflation, the European Central Bank’s contractionary monetary policy, geopolitical tensions and the overall volatility in financial markets continue to put negative pressure on the segment.
Nonetheless, the report notes that the segment has demonstrated resilience despite a challenging macroeconomic environment, owing to its solid operating fundamentals, and says the segment’s current solvency levels provide a good buffer to absorb some degree of volatility, which could arise from financial market upheaval or loss experience.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=332143 .
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.