2025 Italian Insurance Outlook: Premiums Growth Drives Positive Momentum but Challenges Remain

Morningstar DBRS published a commentary discussing the 2025 outlook for Italian insurance companies.

Key highlights include the following:

-- Total premiums in the Italian insurance sector grew significantly in 9M 2024, driven by the recovery in the life segment and persistent growth in non-life.
-- Surrenders in the Italian life insurance sector remained high in 9M 2024, but the growth was slower compared with the year before.
-- Sector-wide profitability is expected to remain sound in 2025, and Italian insurers are well-positioned to absorb market shocks thanks to their high Solvency II ratios to date.

"We expect the Italian insurance sector to continue to perform well in 2025, supported by sustained recovery in life premiums, persistent growth in non-life insurance premiums, and higher investment returns," said Mario De Cicco, Vice President of Global Insurance & Pension Ratings at Morningstar DBRS. "However, some challenges remain in both life and non-life segments".