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Synopsis
Timetric’s 'Non-Life Insurance in Italy, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Italian non-life insurance segment, and a comparison of the Italian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Italian economy and demographics, explains the various types of natural hazard and their impact on the Italian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Italy, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Italian non-life insurance segment, including:

• The Italian non-life insurance segment’s detailed outlook by product category

• A comprehensive overview of the Italian economy and demographics

• A comparison of the Italian insurance industry with its regional counterparts

• The various distribution channels in the Italian non-life insurance segment

• Detailed analysis of natural hazards and their impact on the Italian insurance industry

• Details of the competitive landscape in the life insurance segment in Italy

• Details of regulatory policy applicable to the Italian insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Italy:

• It provides historical values for the Italian non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

• It offers a detailed analysis of the key categories in the Italian non-life insurance segment, and market forecasts to 2019.

• It profiles the top non-life insurance companies in Italy, and outlines the key regulations affecting them.

Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Italian non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Italian non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Italian insurance industry, and their impact on companies and the industry's future.

Key Highlights
• The Italian non-life insurance gross written premium decreased at a review-period CAGR of -2.4%.

• Rises in house burglaries and theft led customers to buy property insurance.

• In 2013, the IVASS deployed telematics insurance through a voluntary offer of ‘black boxes’.

• Effective from August 14, 2014, professional indemnity insurance for doctors and medical staff professionals was made compulsory in Italy.

• Agencies was the leading distribution channel during the review period, and contributed 79.3% of the segment’s direct written premium in 2014.

Table Of Contents

Non-Life Insurance in Italy, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Insurance brokers
6.1.3 E-commerce
6.1.4 Bancassurance
7 Natural Hazards
7.1 Flooding
7.2 Landslides
7.3 Earthquakes
7.4 Tornados
7.5 Manmade disaster
7.6 Exposure to Natural Hazards
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Italian Non-Life Insurance Segment
8.2.1 Gruppo Unipol - company overview
8.2.2 Gruppo Generali - company overview
8.2.3 Gruppo Assicurativo Allianz - company overview
8.2.4 Gruppo Cattolica Assicurazioni - company overview
8.2.5 Reale MutuaAssicurazioni - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Civil liability insurance for motor boats and yachts
9.4.3 Social insurance system
9.4.4 Air carriers and aircraft operators' insurance
9.4.5 Professional indemnity insurance for healthcare professionals
9.4.6 Professional indemnity insurance for alternative investment fund managers
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.3 Federation of European Risk Management Associations (FERMA)
9.5.4 Istituto per la Vigilanza sulle Assicurazioni (IVASS)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premiums paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Italian Non-Life Insurance - Key Facts, 2014
Table 2: Italian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Italian Government Credit Ratings
Table 4: Italian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2010-2014
Table 5: Italian Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Italian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2014-2019
Table 7: Italian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Italian Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014
Table 9: Italian Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019
Table 10: Italian Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 11: Italian Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 12: Italian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Italian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Italian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2010-2014
Table 15: Italian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2014-2019
Table 16: Italian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2010-2014
Table 17: Italian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2014-2019
Table 18: Italian Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2014
Table 19: Italian Non-Life Insurance - Investment Portfolio (EUR Billion), 2014-2019
Table 20: Italian Non-Life Insurance - Gross Written Premium by Category (EUR Billion), 2010-2014
Table 21: Italian Non-Life Insurance - Gross Written Premium by Category (EUR Billion), 2014-2019
Table 22: Italian Property Insurance - Increase in Burglary by Provinces (%), 2004-2013
Table 23: Italian Property Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2014
Table 24: Italian Property Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2014-2019
Table 25: Italian Property Insurance - Loss Ratio (%), 2010-2014
Table 26: Italian Property Insurance - Loss Ratio (%), 2014-2019
Table 27: Italian Motor Insurance - Road Accidents, 2010-2014
Table 28: Italian Motor Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2014
Table 29: Italian Motor Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2014-2019
Table 30: Italian Motor Insurance - Loss Ratio (%), 2010-2014
Table 31: Italian Motor Insurance - Loss Ratio (%), 2014-2019
Table 32: Italian Liability Insurance - Gross Written Premium (EUR Billion), 2010-2014
Table 33: Italian Liability Insurance - Gross Written Premium (EUR Billion), 2014-2019
Table 34: Italian Liability Insurance - Loss Ratio (%), 2010-2014
Table 35: Italian Liability Insurance - Loss Ratio (%), 2014-2019
Table 36: Italian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2010-2014
Table 37: Italian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2014-2019
Table 38: Italian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 39: Italian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 40: Italian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2010-2014
Table 41: Italian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2014-2019
Table 42: Italian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019
Table 43: Italian Average Annual Loss by Hazard
Table 44: Shares of Key Insurers in the Italian Non-Life Insurance Segment (%), 2014
Table 45: Gruppo Assicurativo Unipol - Key Facts
Table 46: Gruppo Assicurativo Unipol - Key Financials (EUR Million), 2010-2014
Table 47: Gruppo Generali - Key Facts
Table 48: Gruppo Assicurativo Allianz - Key Facts
Table 49: Gruppo Assicurativo Allianz - Key Financials (EUR Million), 2010-2014
Table 50: Gruppo Cattolica Assicurazioni - Key Facts
Table 51: Gruppo Cattolica Assicurazioni - Key Financials (EUR Million), 2010-2014
Table 52: Reale Mutua Assicurazioni - Key Facts
Table 53: Reale Mutua Assicurazioni - Key Financials (EUR Million), 2010-2014
Table 54: Italy - Insurance Regulatory Framework Key Features
Table 55: Italy - Life Insurance Regulatory Framework
Table 56: Italy - Property Insurance Regulatory Framework
Table 57: Italy - Motor Insurance Regulatory Framework
Table 58: Italy - Liability Insurance Regulatory Framework
Table 59: Italy - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 60: Italy - Taxation on Insurance Products
Table 61: Italy - Corporate Tax Rates for the Financial Year 2015
Table 62: Italian Insurance Industry - Policies and Premium, 2010-2014
Table 63: Italian Insurance Industry - Policies and Premium, 2014-2019
Table 64: Italian Non-Life Insurance - Policies and Premium, 2010-2014
Table 65: Italian Non-Life Insurance - Policies and Premium, 2014-2019
Table 66: Italian Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 67: Italian Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 68: Italian Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 69: Italian Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 70: Italian Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 71: Italian Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 72: Italian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 73: Italian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 74: Italian Non-Life Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2014
Table 75: Italian Non-Life Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2014-2019
Table 76: Italian Non-Life Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2010-2014
Table 77: Italian Non-Life Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2014-2019
Table 78: Italian Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 79: Italian Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 80: Insurance Industry Definitions

List of Figures
Figure 1: Italian Real GDP (EUR Billion), 2010-2019
Figure 2: EUR-US$ Exchange Rate, 2010-2019
Figure 3: Italian Consumer Price Inflation, 2010-2019
Figure 4: Italian Current Account Balance as Percentage of GDP (%), 2010-2019
Figure 5: Italian Unemployment Rate, 2010-2019
Figure 6: Italian Population by Age Group, 1991-2025
Figure 7: Italian Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Italian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Italian Non-Life Insurance - Gross Written Premium (EUR Billion), 2010-2019
Figure 10: Italian Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Italian Non-Life Insurance - Premium per Capita (EUR), 2010-2019
Figure 12: Italian Non-Life Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 13: Italian Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Italian Non-Life Insurance - Total Assets (EUR Billion), 2010-2019
Figure 15: Italian Non-Life Insurance - Total Investment Income (EUR Billion), 2010-2019
Figure 16: Italian Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2019
Figure 17: Italian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 18: Italian Non-Life Insurance - Gross Written Premium by Category (EUR Billion and US$ Billion), 2010-2019
Figure 19: Italian Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 20: Italian Property Insurance - Construction Value Output by Category (EUR Billion), 2010-2019
Figure 21: Italian Agriculture Insurance - Agricultural Area Utilized by Crops (Thousands Hectares), 2014
Figure 22: Italian Property Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2019
Figure 23: Italian Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 24: Italian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 25: Italian Motor Insurance - Registration of New Vehicles, 2010-2014
Figure 26: Italian Motor Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2019
Figure 27: Italian Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 28: Italian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 29: Italian Liability Insurance - Gross Written Premium (EUR Billion), 2010-2019
Figure 30: Italian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 31: Italian Imports and Exports of Goods and Services (EUR Billion), 2010-2014
Figure 32: Italian Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2010-2019
Figure 33: Italian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 34: Italian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 35: Italian Frequency of Hazards by Type, 1990-2014
Figure 36: Italian Mortality by Hazard Type, 1990-2014
Figure 37: Italian Economic Losses Caused by Hazards by Type, 1990-2014
Figure 38: Shares of Key Insurers in the Italian Non-Life Insurance Segment (%), 2014
Figure 39: Italy - The Three Pillars of Solvency II
Figure 40: Italy - Insurance Supervision and Control at Various Levels
Figure 41: Italy - Insurance Regulatory Frameworks for Company Registration and Operation

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