Last 6 March, the IVASS (the supervisory authority of the insurance industry) chaired by Fabrizio Saccomanni, published statistics on the premium to all 2012 (in Safe Mode), of insurance companies operating in Italy, highlighting the decline of the same, compared to 2011 of 4,61% a 105,109 million euro, with regard to non-life and life.
As regards the Life business, giving a careful reading will show a growth in premiums collected for Class VI (that relating to pension funds) that has had an increase of 22,7% compared to 2011.
This increase leads to the growth of assets under management for pension funds to 11.969,1 million euro of (Open pension funds which – 4.686 million euro, Pension funds with a guarantee - 3.777,2 million euro, Pension funds without warranty not included in Class VI - 3.233 million euro).
With regard to the distribution channel is detected in premiums decline as intermediated by banks and post offices (from 54,8% of 2011 al 48,6 of 2012), growth for financial advisors (from 18,3% of 2011 al 23,3% of 2012) and substantial stability for the other channels (Agencies with a mandate, in economics and subsidiary, brokers and direct sales).
As regards the Non-Life there was a decrease in premiums for liability insurance for cars and boats (total 17.576,1 million euro, a decrease of 1,2% compared to 2011). Substantially stable premiums for other non-life (Accidents, RC Generale, Disease and Fire and natural forces).
With regard to the distribution channel the lion's share of the responsibility of the agencies with a mandate (with an incidence of 81, 3% of the portfolio compared to the damage 81,6% of 2011). Between global and individual life portfolio TPL salt percentage in the direct sales channel (telephone and internet).
In conclusion, so I think with regard to the premiums of the life insurance, remains crucial to business (exemplary premium growth in pension funds: everything stopped except the growth of those Open and PIP networks promoted by commercial banks and insurance) while the non-life insurance premiums, on the one hand, remains still a reluctance to make the Italians, the other, the search for savings in mandatory car insurance, pushes more to activate directly with the phone and searching the internet for the lowest price.
Find the full paper on www.ivass.it.
Alex Gaetani