AM Best is revising its market segment outlook on Italy’s non-life insurance segment to stable from negative.

In its new Best’s Market Segment Report, “Market Segment Outlook: Italy Non-Life Insurance”, AM Best notes that it expects non-life insurance gross written premium to continue to grow at a steady pace during 2024, supported by tariff increases and a stabilisation of the Italian economy.

The report also sets out AM Best’s opinion that the segment has successfully navigated inflationary pressures and expects the impact of inflation to reduce in 2024. While competition will remain a headwind, tariff increases applied during the year should be a source of relief and are expected to continue to offset the impact of claims inflation on the motor business, reversing the downward trend in profitability.

To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=343554.

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.

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