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Synopsis
Timetric’s 'Non-Life Insurance in Italy Key Trends and Opportunities to 2020' 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 (2011–2015) and forecast period (2015–2020).

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 and man-made 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 2020' report provides in-depth market analysis, information and insights into the Italian non-life insurance segment, including:

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

- A comprehensive overview of the Italian economy and demographics

- A comparison of the Italian non-life insurance segment with its regional counterparts

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

- Detailed analysis of natural and man-made hazards and their impact on the Italian insurance industry

- Details of the competitive landscape in the non-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 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Italian non-life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Italian non-life insurance segment with its regional counterparts

- It analyzes the various distribution channels for non-life insurance products in Italy.

- It analyzes various natural and man-made hazards and their impact on the Italian insurance industry

- 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
- In 2015, motor insurance was the largest category in the Italian non-life segment, accounting for 63.7% of the segment’s gross written premium.

- The Italian motor insurance category suffered from low profitability during the review-period. One of the key factors for the decreasing profitability was a high rate of undetected fraud.

- Property insurance was the second-largest category, accounting for 22.7% of the segment’s gross written premium in 2015.

- The infrastructure construction market is expected to benefit from the government’s plan to develop railway infrastructure across the country, coupled with high-speed railway network in metropolitan areas.

- Marine, aviation and transit insurance was the smallest category in the Italian non-life segment in 2015.

- Italian tourism to Egypt fell sharply in 2016, due to incidents such as the killing of tourists along with their Egyptian guides in September 2015, the downing of a Russian plane, and the death of an Italian student on the streets of Cairo.

Table Of Contents

Non-Life Insurance in Italy, Key Trends and Opportunities to 2020
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 Profitability
4.2.3 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 Brokers
6.1.3 Bancassurance
6.1.4 E-commerce
7 Natural and Man-Made Hazards
7.1 Flooding
7.2 Landslides
7.3 Earthquakes
7.4 Man-Made Disasters
7.5 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 UnipolSai Assicurazioni - company overview
8.1.2 Generali Italia - company overview
8.1.3 Gruppo Assicurativo Allianz - company overview
8.1.4 Axa Assicurazioni - company overview
8.1.5 Reale Mutua Assicurazioni - 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
9.4.7 Clinical trials liability insurance
9.4.8 Liability for ships with respect to oil pollution
9.4.9 Professional indemnity insurance for insurance brokers and agents
9.4.10 Third-party liability insurance for remotely piloted aerial vehicles
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 Regulation
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 Type 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 margin
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 Branch remittance: Exempt Captives
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
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
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, 2015
Table 2: Italian Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Italian Government Credit Ratings
Table 4: Italian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2011-2015
Table 5: Italian Non-Life Insurance - Penetration (%), 2011-2015
Table 6: Italian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2015-2020
Table 7: Italian Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Italian Non-Life Insurance - Premium per Capita (EUR and US$), 2011-2015
Table 9: Italian Non-Life Insurance - Premium per Capita (EUR and US$), 2015-2020
Table 10: Italian Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 11: Italian Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 12: Italian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2011-2015
Table 13: Italian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2015-2020
Table 14: Italian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2011-2015
Table 15: Italian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2015-2020
Table 16: Italian Non-Life Insurance - Investment Portfolio (EUR Billion), 2011-2015
Table 17: Italian Non-Life Insurance - Investment Portfolio (EUR Billion), 2015-2020
Table 18: Italian Non-Life Insurance - Direct Written Premium by Category (EUR Billion),2011-2015
Table 19: Italian Non-Life Insurance - Direct Written Premium by Category (EUR Billion), 2015-2020
Table 20: Italian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2011-2015
Table 21: Italian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2015-2020
Table 22: Italian Property Insurance - Loss Ratio (%), 2011-2015
Table 23: Italian Property Insurance - Loss Ratio (%), 2015-2020
Table 24: Italian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2011-2015
Table 25: Italian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2015-2020
Table 26: Italian Motor Insurance - Loss Ratio (%), 2011-2015
Table 27: Italian Motor Insurance - Loss Ratio (%), 2015-2020
Table 28: Italian Liability Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2011-2015
Table 29: Italian Liability Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2015-2020
Table 30: Italian Liability Insurance - Loss Ratio (%), 2011-2015
Table 31: Italian Liability Insurance - Loss Ratio (%), 2015-2020
Table 32: Italian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (EUR Million), 2011-2015
Table 33: Italian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (EUR Million), 2015-2020
Table 34: Italian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 35: Italian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 36: Italian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2011-2015
Table 37: Italian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2015-2020
Table 38: Italian Non-Life Insurance - Percentage of Direct Written Premium, by Distribution Channel, 2011-2020
Table 39: Italian Average Annual Loss by Hazard
Table 40: Italian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 41: UnipolSai Assicurazioni - Key Facts
Table 42: Generali Italia - Key Facts
Table 43: Gruppo Assicurativo Allianz - Key Facts
Table 44: Axa Assicurazioni - Key Facts
Table 45: Reale Mutua Assicurazioni - Key Facts
Table 46: Italy - Insurance Regulatory Framework Key Features
Table 47: Italy - Life Insurance Regulatory Framework
Table 48: Italy - Property Insurance Regulatory Framework
Table 49: Italy - Motor Insurance Regulatory Framework
Table 50: Italy - Liability Insurance Regulatory Framework
Table 51: Italy - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 52: Italy - Taxation on Insurance Products
Table 53: Italy - Corporate Tax Rates for the Financial Year 2016
Table 54: Italian Insurance Industry - Policies and Premium, 2011-2015
Table 55: Italian Insurance Industry - Policies and Premium, 2015-2020
Table 56: Italian Non-Life Insurance - Claims and Expenses, 2011-2015
Table 57: Italian Non-Life Insurance - Claims and Expenses, 2015-2020
Table 58: Italian Non-Life Insurance - Assets and Investments, 2011-2015
Table 59: Italian Non-Life Insurance - Assets and Investments, 2015-2020
Table 60: Italian Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 61: Italian Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 62: Italian Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 63: Italian Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 64: Italian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2011-2015
Table 65: Italian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
Table 66: Italian Non-Life Insurance - Property Insurance, 2011-2015
Table 67: Italian Non-Life Insurance - Property Insurance, 2015-2020
Table 68: Italian Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 69: Italian Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 70: Italian Non-Life Insurance - Motor Insurance, 2011-2015
Table 71: Italian Non-Life Insurance - Motor Insurance, 2015-2020
Table 72: Italian Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 73: Italian Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 74: Italian Non-Life Insurance - Liability Insurance, 2011-2015
Table 75: Italian Non-Life Insurance - Liability Insurance, 2015-2020
Table 76: Italian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 77: Italian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 78: Insurance Industry Definitions


List of Figures
Figure 1: Italian Real GDP (EUR Trillion), 2011-2020
Figure 2: Italian Consumer Price Inflation (%), 2011-2020
Figure 3: Italian Current Account Balance as Percentage of GDP (%), 2011-2020
Figure 4: EUR-US$ Exchange Rate, 2011-2020
Figure 5: Italian Unemployment Rate, 2011-2020 (%), 2015
Figure 6: Italian Population by Age Group, 1991-2025
Figure 7: Italian Non-Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Italian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Italian Non-Life Insurance - Gross Written Premium (EUR Billion), 2011-2020
Figure 10: Italian Non-Life Insurance - Penetration (%), 2011-2020
Figure 11: Italian Non-Life Insurance - Premium per Capita (EUR), 2011-2020
Figure 12: Italian Non-Life Insurance - Profitability Ratio (%), 2011-2020
Figure 13: Italian Non-Life Insurance - Total Assets (EUR Billion), 2011-2020
Figure 14: Italian Non-Life Insurance - Total Investment Income (EUR Billion), 2011-2020
Figure 15: Italian Non-Life Insurance - Investment Portfolio (EUR Billion), 2011-2020
Figure 16: Italian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 17: Italian Non-Life Insurance - Direct Written Premium by Category (EUR Billion), 2011-2020
Figure 18: Italian Non-Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 19: Italian Property Insurance - Construction Value Output by Category (EUR Billion), 2011-2015
Figure 20: Italian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2011-2020
Figure 21: Italian Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 22: Italian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011-2020
Figure 23: Italian Motor Insurance - Road Accidents, 2010-2014
Figure 24: Italian Motor Insurance - Car Registration, 2011-2015
Figure 25: Italian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2011-2020
Figure 26: Italian Motor Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 27: Italian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011-2020
Figure 28: Italian Liability Insurance - Direct Written Premium (EUR Billion), 2011-2020
Figure 29: Italian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011-2020
Figure 30: Italian Marine, Aviation and Transit Insurance - Direct Written Premium (EUR Million), 2011-2020
Figure 31: Italian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2011-2020
Figure 32: Italian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 33: Italian - Frequency of Hazards by Type, 1990-2014
Figure 34: Italian Mortality by Hazards Type, 1990-2014
Figure 35: Italian Economic Loss by Hazards Type, 1990-2014
Figure 36: Italian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Figure 37: Italy - The Three Pillars of Solvency II
Figure 38: Italy - Insurance Supervision and Control at Various Levels
Figure 39: Italy - Insurance Regulatory Frameworks for Company Registration and Operation

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