Last year, the insurance market in Greece took a significant hit as the number of people in the country who cashed in savings based policies broke all previous records of that nature.
That trend revealed a solid decline of the state of the insurance industry within the country.
This appears to be yet another casualty of the economic crisis in Greece. The reason is that as people have watched their disposable incomes withering, they have found it increasingly difficult to be able to pay their various bills, including their insurance premiums payments. As a result, they have cashed out of their savings based policies and have generated a trend that is causing the insurance market in the country to take a significant dive.
A recent report from Kathimerini has provided notable insight on the Greek insurance market situation. Read the full story