The insurance industry can be broken down into two main categories, life and non-life. In 2017, insurance premiums written on the Italian market reached 98.6 billion euros for the life segment and 32.3 billion euros for non-life insurance. For life insurance, the most popular distribution channel is banks. In fact, bancassurance accounts for approximately 76 percent of the total life premiums in Italy. On the other hand, agents dominate the non-life insurance market, also accounting for 76 percent of written premiums.
Assicurazioni Generali is the leading insurance group in Italy regarding total gross premiums written. Generali's premiums in both life and non-life segments reached over 66 billion euros in 2018. This was more than four times as much as reported by Poste Vita, second in the ranking with nearly 16 billion euros worth of gross premiums written.
The life insurance market in Italy is dominated by Poste Vita, a company that registered a market share of 17.5 percent in terms of gross written premiums in 2017. On the other hand, when looking at the leading companies in the non-life insurance segment, competition is fiercer: Unipol Sai leads the market with a market share of approximately 19 percent, followed by Generali Italia with 13.5 percent, and Allianz with a market share of about 10 percent.