Forecast: Turnover of Life Insurance in Italy

A review of the turnover of life insurance in Italy from 2013 through 2023 reveals considerable variability. Notably, 2014 witnessed a significant surge of 27.11%, while moderate growth continued into 2015 with a 4.2% increase. However, 2016 marked the beginning of a decline with a -9.51% change, which persisted into subsequent years. The CAGR over the last five years to 2023 is -0.28%, indicating a slight annual decrease. In 2023, the turnover stood at €99.58 billion.

Propelling into the forecasted period from 2024 to 2028, annual variations are expected to continue the downward trend, culminating in a forecasted 98.28 € billion by 2027. The five-year CAGR forecast is -0.26% with a total forecasted decline of 1.3% over this period.

Future trends to watch for include:

• Potential impacts of regulatory changes in the insurance sector
• Shifts in consumer behavior toward alternative financial products
• The influence of digital transformation and insurtech innovations on product offerings and market penetration
• Economic factors affecting consumer spending capacity and investment in life insurance products