IVASS – Statistical Communication no. 7/2023

On September 15, 2023, IVASS published the statistical communication no. 7/2023 on the premium collection in the first quarter of the years 2009 to 2023 on its website.

According to the communication, companies with a permanent establishment in Italy collected a total amount of insurance premiums equal to 37.6 billion euros in the first quarter of 2023, recording a decrease in premiums deriving  from Life insurance contracts (-3.7%) and an increase in those from non-life insurance contracts, with premium collected in an amount of  11.3 billion (+10.3%).

The decline in premiums collected in the life insurance sector is primarily due to the reduction in life policies connected to investment funds or indexes (branch III), which decreased by -38.2% compared to the first quarter of 2022.

On the other hand, an increase in branch I (insurance on the duration of human life) and branch VI (pension fund management) life policies can be observed.