Forecast: Production in Non-Life Insurance Sector in Italy

The non-life insurance sector in Italy has demonstrated varied year-on-year changes in production value over the past decade, with substantial growth noted from 2019 onwards. In 2023, the sector stood at 22.45 billion euros. The CAGR over the last five years was 6.14%, reflecting a robust growth trajectory post-2018. The sector exhibited notable increases, with 2020 registering an 8.3% rise, followed by consistent expansions through 2023.

Looking ahead, the forecast predicts the market will continue to grow, with a projected 5-year CAGR of 3.9%, culminating in a 21.08% increase by 2028. Key drivers include economic stabilization, technological advancements, and regulatory developments which are likely to sustain this upward trend.

Future trends to watch:

• Increased adoption of digital and InsurTech solutions enhancing customer experiences and operational efficiencies.
• Climate change and its impact on risk assessment and insurance product offerings.
• Regulatory changes within the EU that might influence market dynamics.