(Finance) – “In the first months of 2022 the insurance sector is demonstrating a significant resilience to the worsening of the economic scenario. As the president of Ivass recently observed, there are no alarm signals. In particular, the growth trend in Non-Motor Non-Life classes, while in Life, despite a reduction in premiums, net inflows are still positive “. This is the picture presented today by president of Ania, Maria Bianca Farina on the occasion ofAnnual Assembly of the Association.
In 2021 i overall Life and Non-Life premiums They have reached 140 billion eurosup 3.8%, thus returning to the level of 2019. In detail, i Life awards they scored a result of 106 billion, up 4.5%. THE Damage awardswith a collection of 34.1 billion, they increased by 2%, due to a further 4.5% reduction in Motor TPL premiums and a positive contribution, equal to almost 6%, from the other Non-Life classes. “It is confirmed – he commented Flour – a growing demand for protection, albeit still insufficient to overcome the under-insurance situation that characterizes our country “.
The total investments almost reached 1,050 billion, about 60% of GDP, and – underlined the president of Ania – “the trend of portfolio diversification continued with the increase of alternative assets”.
“We remain, therefore, large institutional investors oriented towards sustainable medium-long term investments – said Farina -. The success of our initiative of a Infrastructure Investment Fund, which recently announced the final closing with a collection of 516 million, well beyond the initial target. “The solvency index, an indicator of the solidity of the sector, increased compared to 2020, reaching 2.5 times the minimum required by the rules.
Between challenges facing the insurance sector in the two-year period 2022-2023 include the slowdown in the demand of savers, fears of an increase in the cost of claims in the elementary classes and the loss of the value of the securities portfolio, due to the sudden rise in interest rates. “We hope – said the president of ANIA – that, in time for application in the six-monthly period, the provision, already operational in the three-year period 2018-2020, will be reiterated, which sterilizes the fluctuations in the values of assets in the financial statements drawn up in accordance with local accounting principles . It would also be advisable, in view of the end of the year, to limit the entity to be allocated to the unavailable reserve to only the portion of the capital losses that may actually be incurred on the income statement of the companies “.
For Italian insurance companies – as Farina explained – it is a question of facing, for the first time since the 1980s, one rising interest rate scenario and to satisfy the demand by savers for protection against inflation. “In themselves, the highest rates are not a problem for the insurance industry but – concluded the president of Ania – the speed of the rise makes it crucial to be able to maintain a positive collection to guarantee investments with yields that are significantly higher than those. obtainable only a few months ago “.