Location: - Southern Europe; - borders Ionian Sea and Mediterranean Sea; - peninsular country, possessing an archipelago of about 3,000 islands, dominating the Aegean Sea and the southern entrance to the Turkish Straits; - Neighbours: Cyprus, Turkey, Bulgaria, Macedonia, Albania, Italy.
Climate: - Mediterranean climate with mild wet winters and hot, dry summers; - snowfalls do occur occasionally during the winter.
Natural Hazards: - severe earthquakes; - droughts; - wildfires.
A rise in health insurance premiums, which is largely attributed to cost increases by health care providers, has negative effects on both insureds and intermediaries, insurancedaily.gr writes.
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totaled EUR 5.26 billion at the end of 2023, up by 8.89% y-o-y from EUR 4.84 billion a year before.
From 2015 to 2023 Greece has recorded 16 rainstorms with serious effects on the local economy. Through the Cat Monitor tool created by EAEE (the Association of Insurance Companies of Greece) important data on extreme natural disasters is recorded across the country, insurancedaily.gr writes.
Last year by the end of November four insurance LoBs saw over EUR 300 million premium increase. These are investment life insurance, which brought additional EUR 132.1 million, health insurance where premium production increased by EUR 95 million, fire insurance with additional EUR 50 million and vehicle insurance with EUR 36.4 million, insurancedaily.gr writes.
NN Hellas has been recognized as Top Employer 2024 for another year, confirming its commitment to creating a model working environment. It is the only insurance company recognized for the 6th year in a row as a top employer in Greece, insurancedaily.gr writes.
Q3 2023 preliminary insurance market figures published by HAIC - Hellenic Association of Insurance Companies, shows that at the end of September 2023, the Greek insurance market totaled EUR 3.8 billion, up by 9.7% y-o-y.
In 3Q2023 an increase of 0.5% in total assets of insurance companies was registered compared to the previous quarter. The amount reached EUR 19,568 million, while insurance technical reserves increased to EUR 14,375 million from EUR 14,167 million in the previous quarter, insurancedaily.gr writes.
A total of 403 damages were reported, with total compensations amounting to EUR 48.78 million after the wildfires that affected Greece this summer, the Union of Insurance Companies of Greece (EAEE) said.
The region of Thessaly in Greece has the lowest rate of home insurance against natural disasters, according to data from the Insurers Association of Greece for June 2023, insurancedaily.gr writes.
The situation on the insurance market based on the complaints received by the Consumer Ombudsman in 2022 compared to previous years significantly improved, insurancedaily.gr reports.
Half year premiums underwritten by Greek insurers members of Hellenic Association of Insurance Companies (HAIC) totaled EUR 2.65 billion, up by 14% y-o-y according to end-June 2023 figures.
INTERLIFE Insurance recorded a significant increase in business in 1Q2023 - by 17.09% vs 10.2% on the market, according to Ioannis Votsaridis, who presented the company's data, insuranceforum.gr reports.
According to the Q1 2023 preliminary statistics published by HAIC - the Hellenic Association of Insurance Companies, at the end of March, the Greece insurance market totaled at EUR 1.23 billion, 6.8% more y-o-y.
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totaled EUR 4.85 billion at the end of 2022, up by 4.2% y-o-y.
According to the January-September 2022 preliminary insurance market figures published by HAIC - Hellenic Association of Insurance Companies, at the end of Q3, the Greek insurance market totaled EUR 3.19 billion, up by only 0.3% y-o-y.
Marianna Politopoulou, Chief Executive Officer (CEO) of NN Hellas, has decided to leave NN Group as of 30 November 2022, to pursue opportunities outside the company. "Marianna's successor will be announced in due course", as NN Group representatives informed in a statement.
Half year premiums underwritten by Greek insurers members of Hellenic Association of Insurance Companies (HAIC) totaled EUR 2.14 billion, up by 0.20% y-o-y according to end-June 2022 preliminary figures.
According to the Q1 2022 preliminary statistics published by HAIC - the Hellenic Association of Insurance Companies, at the end of March, the Greece insurance market totaled at EUR 1.06 billion, 1.3% less y-o-y.
On 22nd April, NN Group announced the completion of the acquisition of MetLife's businesses in Poland, following the approval obtained by the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego, KNF) on 14 April 2022. NN Group completed the acquisition of MetLife's businesses in Greece on 31 January 2022.
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totaled EUR 4.26 billion at the end of 2021, up by 7.7% y-o-y.