(Finance) – It is probable that British and Italian non-life insurers they will see i greater benefits in Europe from the increase in premiums insurance in 2024. This was stated by Fitch Ratings in an analysis on the topic.
Non-life insurers across Europe will benefit from higher premiums, lower claims inflation and better fixed income returns, but those in the UK and Italy will be able to accept major price increases.
Analysts at the ratings agency say the sector outlook for the UK non-life insurance market, the London insurance market and the Italian non-life sector in 2024 is improving, reflecting good prospects for greater profitability as price increases exceed inflation. Elsewhere in Europe, the outlook for the non-life sector is neutral as price increases are likely to be more limited by competition or social pressure.
In Italy, Fitch expects that the Car insurance rates will increase significantly in 2024, increasing underwriting profitability.
“We also expect a strengthening of profitability in the non-automotive sector, particularly inhealth insurancebut the pressure on income available to families will limit improvement,” the report reads.
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