OLDWICK, N.J.–(BUSINESS WIRE)–In this AMBestTV episode, Michael Dunckley, associate
director, AM Best, said Italian non-life insurers should be
bolstered by growth in liability and health coverages. Click on http://www.ambest.com/v.asp?v=italynonlife_english419
to view the entire program.
AM Best is maintaining a stable outlook on the Italian non-life
insurance sector. Dunckley highlighted some of the reasons for the
stable outlook.
“The key factors underlying the stable outlook are the sustained strong
operating profitability of Italian non-life insurers and the resilience
of the solvency levels of those insurers despite some vulnerability to
spread widening in Italian government bonds,” said Dunckley.
Dunckley also spoke about the growth environment in Italy, as well as
what factors could cause AM Best to revise its outlook on the sector to
negative.
“The Italian economy entered a technical recession in the third and
fourth quarters of 2018. The prognosis for growth going forward is quite
weak. Nonetheless, I think that there could be some growth in the
sector. The main things that could create negative pressure on the
outlook would be a deterioration in operating results and a
deterioration in solvency as a result of a widening in spreads on
Italian government bonds decreasing the value of those assets in the
balance sheet and impacting the capital of insurance companies,” he said.
To access a copy of this market segment report, titled, “Market Segment
Outlook: Italy Non-Life,”visit http://www3.ambest.com/bestweek/purchase.asp?record_code=284421.
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