Market segment outlook : Italy non-life insurance

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      <subfield code="a">Market segment outlook</subfield>
      <subfield code="b">: Italy non-life insurance</subfield>
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      <subfield code="a">Top Line Growth Although Repricing Actions Expected to Decelerate -- Additional Fiscal Burden from the 2026 Budget Law Expected to be Manageable -- Non-Motor Lines of Business are Gaining Relevance -- Stable Regulatory Environment -- Economic Overview -- Guide to Best's Market Segment Outlooks</subfield>
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      <subfield code="a">The report maintains a Stable outlook for Italy's non-life insurance segment in 2026. AM Best expects steady, albeit slower, top-line growth as repricing decelerates, especially in motor, with profitability supported by prior rate actions. A manageable additional fiscal burden arises from the 2026 Budget Law (DTA suspension, IRAP +2%, and a flat 12.5% premium tax for car-related covers), likely passed on to policyholders. Non-motor lines are gaining relevance, supported by mandatory catastrophe coverage for corporates effective March 31, 2026. The regulatory environment remains stable and aligned with the EU; Solvency II review by 2027 should provide capital relief and reduce volatility. The macro outlook shows modest GDP growth (0.5% in 20262027) and inflation above the ECB target, with risks from tariffs, euro strength, and global uncertainty.</subfield>
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      <subfield code="a">Seguros no vida</subfield>
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