Lloyd's of London released figures today showing the market's premium income from Italy has now topped £135m. This is a rise of more than 35% from 2000.
Lloyd's said that reinsurance business was booming with gross premium income rising from £13m in 1998 to £41m in 2000.
It also said that medical malpractice is an important growth area as Lloyd's covers several Italian hospitals.
Rates have been rising steadily in the Italian market, especially since the World Trade Centre events. In some cases they have risen by more than 40%.
Italy is now Lloyd's sixth largest market, up from eighth in 1999.
The Lloyd's general representative for Italy, Enrico Bertagna, said: "Lloyd's Italian office has become a stable and efficient platform which facilitates our underwriters' strategy of developing new worthwhile business in Italy.
"Also, Lloyd's underwriters' technical skills are helping to improve the security of Italian risks.
"This is why the Lloyd's market is becoming more attractive for Italian intermediaries, risk managers and clients and Lloyd's underwriters' appetite for Italian business is growing."
