STATISTICS: GREECE, FY2019: insurance market passed the EUR 4 billion threshold

27 February 2020 — Andrei Victor
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totalled EUR 4.07 billion at the end of 2019, up by 8.7% y-o-y.

The life insurance segment increased by almost 17% y-o-y to EUR 1.97 billion. The market share of life insurance lines increased to almost 49%, outpacing non-life insurance lines growth, both in nominal and relative change.

In the case of non-life business lines, Greek insurers generated about EUR 2.09 billion in GWP, 2% more y-o-y. MTPL was by a considerable margin the largest non-life insurance class, with 18% market share, being followed by Fire and natural forces property insurance, Sickness insurance, and Motor Hull insurance.

The results takes into consideration 52 HAIC members, of which 19 were active in life insurance (99.9% market share of FY 2018 life GWP) and 44 were active in the Non-life insurance (94.8% market share).


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