Italian insurance companies provide the public with a wide range of services geared at risk mitigation. Italy ranks seventh in the world and fourth in Europe for premium collections.
Life insurance and non-life insurance combined for an industry profit of 5.7 billion euros in 2015. Several insurance providers are available to Italian citizens, most of which have developed into global corporations.
On December 26, 1831, the Assicurazioni Generali Group was founded as a business with its headquarters in Trieste.
When it was created, Trieste was the most important seaport in the Austro-Hungarian Empire. The corporation maintained an upward trajectory to get to the top of the insurance industry in Italy and Central Europe.
The Group’s primary regions of presence are in East Asia, the Middle East, and Europe. It is trendy in many countries, including Italy, Israel, Germany, Serbia, Poland, China, the Netherlands, Japan, France, Hungary, Croatia, and Austria.
It has sizable market shares in all of these countries. The premiums paid by the company are 62,535 million euros. In terms of income, the organization came in second place in 2010 to AXA. In 2016, Generali generated 86.103 billion in sales and 2.239 billion euros in profit. The Group held Seventy-four thousand positions in the same year.
Unipol (Unipolsai And Other Subsidiaries)
In terms of market share, Unipol ranks second in Italy. The Group principally engages in the insurance business via UnipolSai Assicurazioni S.p.A. This business has more than 10 million consumers and primarily targets the property, car, and life sectors.
While UniSalute focuses on healthcare, its affiliate Linear Assicurazioni works in the direct insurance industry. The Unipol Group, which started as a cooperative supplying non-life insurance in 1962, is currently headquartered in Bologna. The total premiums paid by the company amounted to 16,673 million euros.
The Italian Post (Poste Vita And Rome Poste Assicura)
The postal and financial services industries are served by the Poste Italiane Group. Among its many subsidiaries are Poste Assicura and Poste Vita insurance services companies. Poste Vita is based in Rome and offers both life and non-life insurance.
According to data gathered in 2014, the firm was Italy’s fourth-largest by gross premiums. The business has the second-largest market share for life insurance. The premiums for the Group are at 13,244 million euros.
Sanpaolo Intesa (Intesa Sanpaolo Vita)
Following the merger of Sanpaolo IMI and Banca Intesa, the Intesa Sanpaolo group was created. The organization’s headquarters are in Turin, and it is becoming more widespread across the Middle East, Central and Eastern Europe, and North Africa.
Intesa Sanpaolo Vita, a subsidiary, entered the life insurance industry in 2004. Until 2011, the business was known as Eurizon Vita Spa, and Milan serves as its corporate headquarters. The anticipated value of the Group’s premiums is 11,948 million euros.
Future Trends in the Italian Insurance Industry
It has been determined that several prospects for the Italian insurance industry have expanded. For instance, the anticipated decline in the government’s role in providing social benefits would increase the number of persons looking for financial security and retirement funding.
Numerous economic and demographic issues, such as strain on its pension system and an aging population, have been present in Italy. The insurance industry will significantly lessen Italy’s troubles.
The Biggest Insurance Groups In Italy
|Rank||Company||Headquarter||Premiums (€ mil.)|
|2||Unipol (UnipolSai and other subsidiaries)||Bologna||16,673|
|3||Poste italiane (Poste Vita and Poste Assicura)||Rome||13,244|
|4||Intesa Sanpaolo (Intesa Sanpaolo Vita)||Turin||11,948|
|5||Allianz (Allianz S.p.A. only)||Trieste||7,296|
|8||BNP Paribas’s Italian subsidiary||Paris||4,174|
|9||Reale Mutua Assicurazioni||Turin||3,539|
|10||CNP Assurances–UniCredit (CNP UniCredit Vita)||Milan||2,562|