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Country Profile: Italy - Leaning toward growth.
(From Reinsurance)
Italy's property/casualty (P&C) insurance market is the fourth largest in Europe in terms of premium volume. In 2005, the industry wrote EUR36.3bn ($45.8bn), around 10% of the overall EU non-life insurance market.
However, despite its market position in Europe, Italy remains comparatively under-insured in P&C. Italians spend approximately 2.6% of the country's gross domestic product (GDP) on P&C insurance as compared to the European average of approximately 3.8%. Insurance is comparatively even lower in non-motor lines, which represent less than 1% of the country's GDP.
According to an Industry Outlook report, Italian ...
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