AM Best has maintained its negative outlook on Italy’s life insurance segment in its latest Best’s Market Segment Report. The report, titled ‘Market Segment Outlook: Italy Life Insurance’, notes that despite expected premium growth in 2025, Italian insurers continue to face high levels of policy surrenders. These surrenders are putting pressure on net flows, particularly for capital-light products.
The Italian life insurance market remains highly concentrated, with three companies writing roughly half of total life premiums. The dominance of bancassurance distribution channels further acts as a barrier to entry for new companies and hinders smaller players from gaining market share.
AM Best is a global credit rating agency specializing in the insurance industry. Headquartered in the United States, it operates in over 100 countries with regional offices in key financial centers.
Key Findings
- Negative outlook maintained on Italy’s life insurance segment
- High policy surrender rates continue to pressure net flows
- Market remains highly concentrated among top players
- Bancassurance channels dominate distribution
For more information about AM Best’s market analysis and rating services, visit their website at www.ambest.com.
