Market segment outlook : Italy non-life

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      <subfield code="a">A.M. Best has a stalbe outlook on the Italian non-life insurance market. The sector has a good record of technical profitability, which is expected to be maintained in the medium term. Strong competition is putting pressure on rates for motor business, which represents about half of the market's total premium income, but increased use of telematics is supporting better claims experience and reducing fraud. Prospective performance should also be helped by insurers' increased focus on profitable lined of business outside the motor market. The sector remains exposed to economic and political instability in Italy, which has the potential to weaken local insurers' credit fundamentals due to their significant exposure to Italian government bonds. However, solvency levels are generally good, and provide a buffer to absorb a modest degree of investment market volatility</subfield>
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      <subfield code="a">Seguros no vida</subfield>
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