The Italian households' life insurance and annuity entitlements have shown a consistent upward trend from 2013 to 2023, reaching a value of 986.21 billion Euros in 2023. This period marks a rise from 495.87 billion Euros in 2013, with notable year-on-year variations: a peak increase of 12.68% in 2014 and a marginal growth of just 0.31% in 2018. Over the last two years, the market saw growth rates of 4.36% in 2022 and 4.13% in 2023. The compound annual growth rate (CAGR) over the past five years has been estimated at 6.48%.
Looking ahead, the forecasted data from 2024 to 2028 suggest continued growth, albeit at a slower pace. The projected CAGR for this period is 2.79%, with an overall forecasted growth rate of 14.74% by 2028.
Future trends to watch for:
- Market adjustments due to economic fluctuations and policy changes.
- Increased digital transformation within the insurance sector.
- Growing consumer interest in sustainable and socially responsible investment options.
- Potential impacts from demographic shifts and changing retirement patterns.