STATISTICS: GREECE FY2018: Non-life segment maintained the market on ascendant path

7 February 2019 — Andrei Victor
The insurance market of Greece totaled EUR 3.19 billion at the end of December 2018, up by 1.8% y-o-y, according to the preliminary figures published by the Hellenic Association of Insurance Companies (HAIC).

"We are optimistic about the development of the Greek insurance market, in recent years taking important steps for its progress: local insurers are much more capitalized, and they made serious reforms concerning corporate governance and transparency. In addition, we have a strong supervisor, the Bank of Greece, and a strict pan-European institutional framework - Solvency II", said Alexandros SARRIGEORGIOU, Chairman of the Board of Directors of the Hellenic Association of Insurance Companies.

In terms of GWP, the life insurance segment was down by 0.50% y-o-y to EUR 1.86 billion due the 6.6% decrease reported by traditional policies to EUR 1.27 billion.

Non-life insurance GWP accounted for 52.4% of the total - EUR 2.05 billion, or 4.0% more y-o-y.

"The insurance market is closely linked to the economy. At the same time is one of the largest institutional investors in the country. The insurance market is a powerful lever for growth. We are ready to work with local insurer to provide the most suitable solutions to citizens - on serious issues such as pensions, health and natural disasters".

Access and download FY2018 Greece insurance market statistics.

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