AM Best has maintained a stable market segment outlook on the Italian non-life insurance segment. Key supporting factors include a projected recovery in premium volumes following a contraction in 2020 due to the effect of the COVID-19 driven economic slowdown, the expected maintenance of strong underwriting profitability, limited exposure to catastrophe losses and resilient risk-adjusted capitalisation.
A new Best's Market Segment Report, "Market Segment Outlook: Italy Non-Life Insurance", states that the Italian non-life insurance segment has adapted quickly to the new circumstances that have arisen following the COVID-19 pandemic, owing to its solid operating fundamentals has demonstrated resilience in a challenging macroeconomic environment. Nonetheless, AM Best could revise its outlook on the segment to negative if further weakening in the economic environment impacts the value of assets, or if there is a sustained deterioration in the market's technical profitability.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=307869.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210421005945/en/
Contacts:
Jose Berenguer
Financial Analyst
+31 20 308 5429
jose.berenguer@ambest.com
Angela Yeo
Senior Director, Analytics Head of Operations
+31 20 308 5421
angela.yeo@ambest.com
Richard Banks
Director, Industry Research EMEA
+44 20 7397 0322
richard.banks@ambest.com
Edem Kuenyehia
Director, Market Development Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com