ANIA General Meeting

Catastrophic risks: Giorgetti says, ‘The government is ready to support insurance policies for families’

The minister noted that, despite a reduced country risk, insurance companies’ investments in BTPs and government bonds fell further in 2025, both as a percentage and in absolute terms

by Rome Editorial Staff

2 July 2026

2' min read

Translated by AI

Versione italiana

2' min read

Translated by AI

Versione italiana

The decline in insurance companies’ investment in Italian government bonds was the focus of the speech by the Minister for the Economy, Giancarlo Giorgetti, who addressed the ANIA annual general meeting in Rome via video link.

Percentage and absolute decline

The minister noted that, despite a reduced country risk, insurance companies’ investments in BTPs and government bonds fell further in 2025, both as a percentage and in absolute terms.

This figure carries greater weight, he noted, because during the same period the total value of assets rose to over 1,100 billion euros. Giorgetti contrasted this trend with the growing interest shown during the same period by retail savers and foreign investors.

High impact on catastrophic risks

The minister then went on to discuss catastrophic risks, describing them as events with a low probability but a high impact, which are difficult for individual businesses to assess and do not always fit into standardised insurance cover schemes.

Hence the call for the insurance sector to play a more active role in analysing evolving risks and utilising technology. Giorgetti pointed out that the Government has already set minimum standards for compulsory cover, starting with insurance against natural disasters for businesses, but emphasised that it is now up to insurers to support the market’s growth, including by gradually extending the culture of protection to households. The Government, he added, is ready to support this transition, if necessary through the public reinsurance scheme managed by Sace.

Investments

On the investment front, the minister outlined three areas of focus for the government: to promote the provision of domestic investment vehicles capable of mobilising long-term Italian capital; to work at European level to ensure that national guarantee schemes such as Archimede are coordinated with InvestEU and the new European Competitiveness Fund; and not to remain indifferent, where necessary, to changes in the sector’s ownership structures.

Catastrophe cover for homes at 7%

The issues raised by Giorgetti are linked to the figures published by ANIA in its report ‘A protected Italia is stronger and more competitive’: despite the country’s high level of vulnerability — around 40 per cent of homes are located in earthquake-prone areas and almost 95 per cent of municipalities are at risk of landslides, flooding or coastal erosion — the uptake of catastrophe cover for homes remains at just 7 per cent.

Prize pool of 182 billion

In terms of sector figures, ANIA President Giovanni Liverani announced that in 2025 total premium income reached 182 billion euros, up 7.8 per cent, with the Non-Life sector up 6.5 per cent and the Life sector up by more than 8 per cent. In the same year, the sector paid out €42 billion, of which €27 billion was used to compensate over 18 million policyholders who had suffered losses and €15 billion was paid out on life insurance policies.

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