GREECE: Four LoBs bring additional EUR 300 million in premiums

7 February 2024 — Marina MAGNAVAL
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, writes.

According to the Association of Insurance Companies of Greece (EAEE) premium growth during the period was at 8.7% and amounted to EUR 4.7 billion with life insurance increasing by 5.1% and non-life - by 12.3%. About EUR 2.2 billion was generated by life insurance classes and EUR 2.4 billion – by non-life ones.

In particular, the increases recorded from November 2022 to November 2023 are:

Investment life insurance: + EUR 132.1 million

Health insurance: + EUR 95 million

Fire insurance: + EUR 50 million

Management of collective pension funds: + EUR 32.6 million

Vehicle insurance: + EUR 36.4 million

Vehicle liability insurance: + EUR 16 million

While reductions were recorded in:

Life insurance: - EUR 45 million

Accident insurance: - EUR 5.7 million

The Association of Insurance Companies of Greece is a professional association with a history of 115 years. 44 members in total represent over 95% of the premiums generated in the Greek market.