AMSTERDAM--(BUSINESS WIRE)--AM Best has revised its outlook for the Italian non-life insurance segment to negative from stable.
The Italian non-life insurance segment is returning to pre-pandemic levels of profitability, following an atypically profitable period shaped by the COVID-19 emergence. AM Best expects the challenging economic environment to be a significant headwind for Italian non-life insurers in 2022.
In a new Best’s Market Segment Report, “Market Segment Outlook: Italy Non-Life Insurance", AM Best explains that factors such as the uncertainty regarding the development of the COVID-19 pandemic, rising inflation, the continued low interest rate environment, geopolitical tensions and the overall volatility in financial markets continue to put negative pressure on the segment.
Nonetheless, AM Best notes that the segment has demonstrated resilience over some years despite a challenging macroeconomic environment, owing to its solid operating fundamentals. AM Best may revise the outlook back to stable, if insurers also navigate the challenges of 2022 successfully.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=319269.
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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