Premiums development
Gross written premiums in the P&C segment confirmed the development seen during the year, standing at € 20,749 million. Growth of 1.7% is attributable to development of the motor segment (+3.0%) driven by Germany (+4.2%), CEE Countries (+3.2%), Americas region (+25.7%), France (+2.6%) and Spain (+3.8%), which more than offset the drop in motor premium income in Italy (-4.5%) after the average premium fell and after the measures taken to recover the returns of the portfolio.
Also non-motor premium income is up (+0.9%) as it mainly benefits from development in the CEE Countries (+3.6%), in the EMEA region (+2.6%) and in Europ Assistance (+10.8%), while Italy, even if it is recovering from the drop seen in 2017, is down by 1.8%, mostly due to the reduction in income of the Global Corporate & Commercial lines, and France by 2% because of the weak market conditions in the Companies and Buildings market.
