Reinsurance is Still in Infancy Stage in Italy: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Ken Research has announced recent publication titled “Reinsurance in Italy, Key Trends and Opportunities to 2020”. This report analyses reinsurance growth and opportunities in the country covering competitive landscape, economy and demographic analysis and significance of natural and man-made hazards and their impact on the Italian insurance industry. It discusses major market segments and future outlook of the industry. There is no active reinsurance market in Italy. Since 2008, the reinsurance has only been provided through international reinsurance firms by setting up branch offices in Italy. The major companies are Swiss Re, Munich Re, SCOR, Mapfre Re, RGA and General Re etc. The average fertility rate is 1.37. The life expectancy of people is over 80 years. This means that the population in Italy is ageing rapidly and putting a pressure on the welfare system, pensions and moreover the supply for the younger generation to increase the tax revenue is decreasing. Macroeconomic environment The Italian industry is thrives on its manufacturing and service sector. The services sector accounts for almost three quarters of total GDP and has 65% employment. The industry sector accounts for one fourth of GDP and 30% employment, the manufacturing sector is dominated by small and medium run enterprises run by families. The agriculture takes the smallest share in the economy of Italy. BREXIT: London was the hub for the insurance market in Europe. Being a part of EU, the insurance business was relatively smooth between Italy and UK. It was that allowed UK Insurers establish branches in other Member States as well as Italian Insurers to open branches in UK under the so called “Home Country Control” system, meaning that the Home Country Supervisor had the exclusive responsibility for any regulatory and prudential supervision of the Insurer within the EU. But now, the UK not being a part of EU, their insurers and intermediaries will need to obtain new authorizations in order to offer cross-border services to Italian clients. The UK Insurers will use Articles 28 and 29 of the Italian Insurance Code (“IIC”) to obtain new authorization in order to carry out business under the right of establishment, according to the prohibition to carry on business under the freedom of services. The same will need to be done by the Italian counterparts. This would lead to several regulatory uncertainty in the already established contracts and hamper the establishment of future contracts. The ageing population of Italy is putting a big pressure on the social security system of the government. Also, the debt ratio of the nation is widening, thus both these factors could lead to a fall in the income of the Italians and thus the investment in the insurance and reinsurance companies can fall significantly in the upcoming years. The acute low interest rate in Italy has affected the investment opportunities and can severely affect the insurance companies whose liabilities consist of a fixed investement return. Key Highlights The new regulations introduced in Italy on the authorization and operation of insurance and reinsurance brokers were issued by the Financial Supervisory Authority. The European Insurance and Occupational Pensions Authority (EIOPA) issued guidelines on the application of outwards reinsurance arrangements for non-life catastrophe risk. In the absence of any compulsory insurance for natural disasters, the Italian government covers the majority of losses. However, the rising frequency of natural disasters is encouraging the government to make natural disaster cover compulsory for households. Italians are persistently underinsured for disasters due to a lack of payments, as well as the length of time involved in making a claim in the occurrence of an earthquake. Topics covered in the Report Italy Insurance industry research report Life insurance sector Italy market research Non-life insurance market research Global insurance sector market research Life insurance distribution channels Italy Life insurance regulations Italy Italy insurance industry trends Insurance sector drivers Italy Italy reinsurance market research For more coverage Click on the link below https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/reinsurance-italy/74579-93.html Related Links Reinsurance in Singapore, Key Trends and Opportunities to 2020 Personal Accident and Health Insurance in Singapore, Key Trends and Opportunities to 2020 Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 www.kenresearch.com Tags: Global insurance sector market research, Insurance sector drivers Italy, Italy Insurance industry research report, Italy insurance industry trends, Italy reinsurance market analysis, Italy reinsurance market future, Italy reinsurance market growth, Italy reinsurance market research, Italy reinsurance market share, Italy reinsurance market trends, Life insurance distribution channels Italy, Life insurance regulations Italy, Life insurance sector Italy market research, Non-life insurance market research