(Finance) – Il Italian insurance sector it’s on one tendency towards improvement, despite the challenging operating environment in 2022 and 2023, particularly in the life insurance sector. He states it DBRS Morningstar in a new report on the topic. This is mainly supported by the growing dynamics of the premiums of traditional life insurance products recorded in 2023 and the persistent good performance of the non-life business, we read in a note.
“We believe that the Italian insurance sector is on an improving trend, despite the difficult operating context in 2022 and 2023 – he stated Mario De CiccoVice President, Global Financial Institutions at DBRS Morningstar – Sector-wide performance, which was significantly impacted in 2022, is expected to improve in the short to medium term as both companies and policyholders have learned to navigate a higher interest rate environment while inflationary pressures have eased.”
Therefore, DBRS Morningstar expects the high level of redemptions in life segment will normalizewhile the non-life segment will continue to benefit from the repricing initiatives implemented this year and greater market penetration in non-motor insurance segments.