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Competitive and regulatory framework Social, technological, competitive and regulatory developments are constantly transforming the framework of our business areas.

Mail Services

The European postal market is facing a structural decline in the distribution of letters, printed material and advertising, due to the expansion of electronic communications.
Demand for parcel delivery services is instead on the rise, driven by growth in e-commerce. The B2C parcel market in Italy, however, is still characterised by low levels of penetration, as only 2 parcels are delivered per person per year, compared to 18 in the UK and 22 in Germany. The forecast, therefore, is for strong market growth.

Payment, Mobile and Digital Services

The new European Payment Service Directive (known as PSD2), concerning retail payments and in force as of January 2018, promotes new payment methods, faster and more efficient transactions, and greater protection and security for personal data.
Cash continues to be used in 85% of all payments in Italy, versus an average of 68% in the European Union, however strong growth is being witnessed in the electronic payments segment, driven by Internet payments (online bank transfers and card payments).
Digital innovation is another driver that is transforming the world of payments. Innovation in financial technology—or Fintech—is changing the shape of financial services, spearheading new business models, new channels and new products, especially in the fields of e-commerce and mobile payments.

Learn more about our Digital Strategy
The mobile telecommunications market in 2018 continues to be shaped by highly aggressive price competition among the major mobile service providers, which saw the launch of extremely low-priced offers.

Financial Services

Our group only distributes third-party products (mortgage loans, consumer loans, asset management products, etc.). As such, it is not exposed to the typical risks faced by the banking sector. 
Regulatory developments saw the introduction of MIFID2, effective as of January 2018. The new European Directive boosts the efficiency and transparency of financial markets and raises protection levels for investors, while stepping up the organisational arrangements and rules of conduct required of intermediaries.
As concerns the collection of postal savings, in December 2017 Cassa Depositi e Prestiti and Poste Italiane signed a new agreement covering the three-year period 2018–2020, aimed at consolidating the position of postal savings bonds (Buoni) and postal savings books (Libretti) among the most popular savings products for Italians, while innovating and broadening the range of services offered.

Insurance Services

Poste Italiane leads the Italian life insurance market through the subsidiary Poste Vita. Based on the available official data total direct Italian premiums in the Non-life insurance market, thus including policies sold by Italian and overseas undertakings, amounted to €26.2 billion at the end of the third quarter of 2018, slightly up compared with 2017 (2.4%). This marks the sixth consecutive quarter reversing the negative trend seen over the previous five years.
The performance was helped by both the slight increase in premium revenue from vehicle insurance and further growth in other.

Individual pension plans witnessed positive growth in net inflows, confirming the growth potential of the segment, driven by the progressive ageing of the Italian population and the growing pension gap.
The Casualty insurance market grew slightly, although penetration in the Italian market remains low.

For more information on the markets in which we operate, see the Annual Financial Report

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