Fitch upgrades Italian insurance market

9ef148bd-a59d-463b-a858-53a65ab6b173

Fitch Ratings has revised the rating outlook for the Italian non-life insurance market to stable from negative, on the grounds of improving profitability driven by premium rises and better risk selection.

Fitch said in a newly-published report that trading conditions in the Italian non-life insurance market are improving, after two years of weak operating performance.

"There is a stronger degree of consensus among market participants regarding the need to raise tariffs to restore profitability, as well as more evidence that the operating environment, and regulatory aspects in particular, could support the non-life industry in its recovery," said Federico Faccio, senior director in Fitch's insurance team.

"However, the speed at which non-life insurers have responded to the sharp deterioration of the underwriting conditions in 2009 and 2010 has varied between market participants, with higher rated companies having been quicker to respond."

 

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe

You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.

Government to consult on leasehold commission ban

In a written statement published yesterday, the Minister of State for Housing, Communities and Local Government has said the government “will go out to consultation very shortly on the detail of the Act’s ban on buildings insurance remuneration”.

Diary of an Insurer: Clear’s Claire Thompson

Claire Thompson, senior corporate account handler and hybrid account executive in the broking and sales team at Clear Doncaster, walks her Springer Spaniel, tackles CrossFit plus prepares for being a full-time account executive.

Big Interview: Clarissa Franks, Lockton

Clarissa Franks, head of UK retail for Lockton, speaks to Scott McGee about her first year at the broker, the joy of not being “tied up in numbers and margin”, and shares how her team is “doubling down” to achieve growth.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here