GREECE: Share change hands in the life sector

7 June 2012 —
GREECE: Share change hands in the life sector
Absolute leaders of the top 10 positions in the life sector insurances prove to be the multinational companies and bank subsidiaries controlling over 91% of the market according to data for 2011. The first five companies in premium production control 68.8% of the yearly income of the sector. However, the same data show that, compared to 2010, the top five companies in revenue lost some 2% of their total share, which was 70.7%, while the share of the first 10 appears enhanced from 90.6% in 2010 to 91.7% in 2011.

As for the 20 first in premium production companies, the share they control over the entire market is 99.8% and remains unchanged compared to 2010.

From the above the outcome from this share "battle" is that more enhanced emerged the bottom five companies, while the first five in the sector showed a decline due to market recession by income and share.

Of course, regulatory factor for the above was the leader in Life branches Ethinki Asfalistiki that suffered a production drop by 23.7% or EUR 400.7 million, while Metlife Alico raised their share by 1.9% at around EUR 314.8 million incomes. Third in line was ING that marked a 4.8% increase with EUR 298.1million. Forth in classification by income player was EFG Eurolife that lost 5.5% of revenue reducing their value to EUR 252.9 million and the fifth the Interamercan also counting losses by 12.5%, with value of production to drop to EUR 231.1 million.

As for the second group of the top 10 companies and in particular Credit Agricole in sixth position gained a 17.2% raise on the other hand Allianz Hellas suffered 7.2% in losses. Axa Asfalistiki, Groupama Phoenix and Generali Hellas moved upwards by 3.5%, 7.2% and 4.7% each.

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