2023 is still there Tough year for insurance brief autobiographywhich is suffering from decline in collections, especially Branch III and unit and index linked policies that represent a form of investment rather than a pension instrument. they go back up China instead traditional policiesOn life and against disease, and policies related to social securityespecially the management of pension funds,
This is what comes out of the end IVASS ReportWhich takes a retrospective look at 2022 and provides an indication of performance for the first half of 2023.
First half of 2023: Return to life insurance policies
We will see in the first half of 2023 Increase in production of Branch I (Traditional Life Insurance Policies), equivalent to +10.2% compared to June 2022, while Reduction in Branch Collection III (Unit and Index Linked Policies) equal to -38.7%.
prize collection of Rami V and VICapitalization associated with the operation and management of pension funds, equal to 1.3 and 3.2 billion, respectively, recorded an increase of +7,5% He was born +33.4%, This follows massive contractions (-36.7% and -38.8%) seen in 2021.
2022 was a dark year
progress of premium collection in 2022 This confirms the extremely difficult year experienced by the sector. Overall Award Collection Yes decreases by 11% Compared to 2021 (including Eurovita policies).
production results concentrated in branches I and III, totaling 89.3 billion euros (94.8% of the total). In 2022, production in Class I, which was almost entirely composed of premiums for revalued policies, decreased by 3% compared to 2021, while Class III portfolios decreased significantly (-27.4%).
decline in investment profitability
Profitability of branch I, equal to 5.3 billion The euro, valued at significantly less than 13 billion in 2021, is generated by fixed income instruments made up of government bonds and private bonds. Income on reserves indicator is negatively correlated with a profitability of Ten year old B.T.P.,
in branch III return on investment is equal to -28.5 billion euros Against a profit of Rs 14.6 billion in 2021. The trend of income depends on the fluctuations in market valuation of current assets, positively correlated for the diversity ofFTSE MIB Stock Index.
Analysis of technical accounts highlights that management cost Premiums recorded in 2022 are largely similar to premiums recorded in 2021 for Class I policies (4.5% compared to 4.3%), while for Class III policies they have increased from 2.8% to 3.7% , which in any case continues to lower overall expenses.
IL Technical results regarding premium issued Class I percentage increased from 6.8% in 2021 to -3.1% in 2022 due to increase in claims costs; The corresponding indicator in Class III has increased from 2.6% in 2021 to -2.4% in 2022 due to a decline in collections and the related reduction in technological progress combined with a negative trend in profitability.