In 2023, the Gross Premium Income of Life Insurance in Italy stood at 128.2 Billion US Dollars. The data shows fluctuating growths over the years. For instance, substantial growth between 2013 and 2015 and moderate declines, followed by a recovery starting 2022. Notably, the year-on-year growth rate for 2022 and 2023 were 5.59% and 0.31% respectively. The 5-year CAGR leading to 2023 is 0.35%. Forward-looking, the forecasted 5-year CAGR is 0.28%, projecting slow but steady growth reaching 130.0 Billion US Dollars by 2028.
Future trends to watch for:
- Impact of regulatory changes on premium structures.
- Further digital transformation and its influence on consumer behavior.
- Market responses to economic fluctuations and demographic shifts.