GREECE: NN Hellas finds opportunities, despite economic difficulties

12 November 2015 —
Business confidence and investment has been undermined by political, social and economic instability, along with deteriorating liquidity conditions. World Finance found out how NN Hellas has weathered the storm.

Economic growth in Greece has remained weak in 2015. In addition to this, the recent capital controls imposed by the Greek Government have not only intensified the worries of customers, but of companies too, resulting in a major shift in consumer habits.

Essential structural changes and a stable economic environment are required so that the Greek economy can jump-start again, leading to the return of business confidence and the recovery of investments - something that is far easier said than done.

The political and financial developments that have occurred over the last few years have significantly shrunk the disposable income of the Greek citizens, forcing many to reevaluate their priorities, with many seeing insurance as surplus to requirements.

In fact, there has been a considerable rise in contract cancellations across all areas of the Greek insurance market. Despite the less than favourable conditions, NN Hellas has managed not only to hold its ground in such difficult times, but managed to significantly increase both its market share and its customer base by offering innovative solutions and improved services.
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