Jennifer Rudden
Research Lead Financial Services & Real estate
Insurance industry in Italy - statistics & facts
The Italian insurance market is one of the largest in Europe and is home to major players, such as Gruppo Generali, Gruppo Assicurativo Poste Vita, and Gruppo Intesa Sanpaolo. The total value of gross direct written premiums has remained at around 140 million euros since 2014. The number of insurance companies in Italy has fallen over the past two decades due to merger and acquisitions. The number dropped below 200 in 2021. In 2022, the sector counted just more than 46,000 employees working in the Italian insurance sector. This figure has remained stable since 2007.
Who leads the insurance market in Italy?
Generali is the largest insurance group in Italy in terms of total gross premiums written. This insurance company is a subsidiary of Generali Group, one of the leading insurers in the world. In 2022, Generali Italia also had the highest market share of health insurance companies by gross written premiums, reaching more than 15 percent. The main subsidiaries of Generali Italia include Alleanza Assicurazioni, Cattolica Assicurazioni, Das, Leone Alato, Genertel and Genertellife, Generali Welion, and Generali Jeniot.What are the most used insurance distribution channels?
The insurance industry can be broken down into two main categories, life and non-life insurance. For life insurance, the most popular distribution channel is banks. In fact, bancassurance accounts for approximately three quarters of the total life premiums in Italy. On the other hand, agents dominate the non-life insurance market, also accounting also for just under 75 percent of written premiums. Non-life insurance includes products such as health insurance, motor insurance, travel insurance, and property/casualty insurance, among others.
