Forecast: Production Value of Non Life Insurance in Italy

The production value of non-life insurance in Italy has shown significant fluctuation over the past decade. From 2013 to 2017, there was a consistent decline, with annual decreases between -1.24% and -1.55%. A turnaround started in 2019 with a 2.87% increase, followed by even more substantial growth of 8.3% in 2020. The growth trend continued with 6.86% in 2021 and 6.59% in 2022. By 2023, the production value reached €22.45 billion, marking a year-on-year increase of 6.12% and a five-year CAGR of 6.14%.

Future trends to watch for include:

- Continued growth with the forecast indicating a 3.9% CAGR from 2024 to 2028

- The total production value is expected to rise to €28.74 billion by 2028, representing a cumulative growth of 21.08%

- Innovations and regulatory changes in the insurance industry may impact growth trajectories and market dynamics