The turnover in the non-life insurance sector in Italy has shown variability over the past decade, with an evident fluctuation in values. Starting at 36.08 billion euros in 2013, it experienced several mid-period declines, notably in 2016 with a reduction of 3.66% and another significant rise in 2019 by 7.71%. By 2023, the turnover stood at 39.88 billion euros, reflecting a general growth trend despite some year-on-year decreases, such as a 6.42% drop in 2020 due to global economic factors. Over the last two years, stability has been noted with minor increases. The last five years show a compound annual growth rate (CAGR) of 0.77%. Forecasted data indicate a gradual increase, reaching 41.51 billion euros by 2028 at a forecasted five-year CAGR of 0.64%.
Future trends to watch in the non-life insurance sector in Italy include technological advancements driving product offerings, regulatory changes, and evolving consumer behaviors towards non-life insurance products. Additionally, the impact of climate change on insurance claims and the adaptation of insurers to emerging risks will be crucial factors shaping the sector’s future landscape.
- Turnover saw both growth and decline over the past decade- 2023 turnover: 39.88 billion euros- Upcoming years forecasted to show stable, gradual growth- Five-year CAGR from 2023 to 2028 expected at 0.64%- Key trends: technology, regulation, consumer behavior, climate change impact