Greece
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STATISTICS: HAIC: The GREEK insurance industry remained relatively at the 3Q2015 level
The Greek insurers reported gross written premiums of EUR 2.79 billion in 3Q2016, up by 1.3% y-o-y, according to a quarterly report published by the Hellenic Association of Insurance Companies (HAIC).
8 December 2016ALLIANZ: GREEKS Lost 30% of their Assets in 8 Years
Greeks lost 30 percent of their wealth since 2007, while in the rest of
western Europe households are much better off economically in 2015 than
in 2007, a report says.
26 September 2016STATISTICS: GREECE, 1H2016: Changing life insurance classification system influenced the GWP rate on the life segment
The Greek insurers member of HAIC - Hellenic Association of Insurance Companies, reported a GWP of EUR 1.88 billion in the first half of 2016, or 5% less y-o-y, according to the half year report published on HAIC's website.
15 September 2016GREECE: PIRAEUS Bank sells ATE Insurance to ERGO Group for EUR 90 million
PIRAEUS Bank, Greece's biggest lender, has completed the sale of its ATE Insurance business to ERGO Group - part of German reinsurer MUNICH Re - for EUR 90.1 million. The transaction makes ERGO the largest property-casualty insurer in the market, and the price is subject to net asset value adjustments, ERGO said in a statement.
4 August 2016STATISTICS: GREECE, 1Q2016: market down by 6% y-o-y
At the end of March 2016, the Greek insurance market totaled EUR 948.57 million, down by 5.7% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC). The life insurance segment decreased by 10% y-o-y, to EUR 456.68 million, while the non-life business line dropped by 1.2% to EUR 491.89 million.
30 June 2016Bank of Greece turns down Bulgaria's Euroins attempt to buy Credit Agricole Life
The Bank of Greece has rejected the proposed acquisition of the local life insurance operations of France's Credit Agricole by Bulgaria's Euroins Insurance Group (EIG) due to solvency capital issues of the buyer's subsidiary in Romania.
23 June 2016GREECE residents to see flood insurance policy savings
The state of New York has 1,500 communities that participate in the National Flood Insurance Program, but only 32 currently participate in the Community Rating System and none rank better than Class 7. Supervisor Bill Reilich says the Town of Greece is the only local municipality in Monroe County that participates in the National Flood Insurance Community Rating System Program, and has received a reduction in its Class rating from 8 to 7 providing additional savings for taxpayers.
16 June 2016GREECE: EBRD buys 15% interest in insurer European Reliance
The European Bank for Reconstruction and Development (EBRD) has
purchased a 15% stake in the Greek insurance firm European Reliance.
23 May 2016GREECE's Piraeus Bank to sell part of European Reliance stake to EBRD
Greece's Piraeus Bank will sell part of its 28 percent stake in insurer
European Reliance to the European Bank for Reconstruction and
Development, a Piraeus official said on Wednesday. Piraeus,
Greece's largest lender by assets, plans to divest the entire stake as
part of a restructuring plan which entails the disposal of non-core
assets.
5 May 2016GREECE: George KOTSALOS steps down as CEO of INTERAMERICAN
George KOTSALOS is stepping down as Chief Executive Officer at INTERAMERICAN Greece during the course of this year, the Dutch mother company ACHMEA annouced a week ago. "The year in which he turns 65", ACHMEA said in the statement.
5 May 2016GREEK insurance market is taking a dive
The situation in the industry in Greece looks as though the trend is to continue slipping. Last
year, the insurance market in Greece took a significant hit as the
number of people in the country who cashed in savings based policies
broke all previous records of that nature.
That trend revealed a solid decline of the state of the insurance industry within the country.
That trend revealed a solid decline of the state of the insurance industry within the country.
31 March 2016Insurance market wanes in GREECE
The number of people who cashed in savings-based insurance policies early reached a record high in 2015, owing to the drop in disposable incomes that led to many being able to keep up with the payments, according to data seen by Kathimerini.
29 March 2016Interlife CEO: GREEK insurance market lost 1.85 bln euros in 2010-2015
The Greek insurance market has lost around 1.85 billion euros during the
crisis, according to Ioannis Votsaridis, chief executive of Interlife. "The
market is falling since 2008. Total loss is very big. The car insurance
sector has lost 48 pct in the 2010-2015 period, the life insurance
sector around 24 pct and the damage sector around 39 pct...I believe
that the sector will find it very difficult to regain its losses as
intense competition drives insurance rates lower," he said.
25 February 2016STATISTICS: GREECE, HAIC: Insurance market dropped by almost 6% in 2015
At the end of December 2015, the Greek insurance market totaled EUR 3.57 billion, down by 5.8% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).
18 February 2016Fairfax CEO sees investment potential in GREECE, says reforms must go on
Fairfax Financial Holdings Chief Executive Prem Watsa said on Friday
that he sees investment opportunities in Greece if the crisis-hit
country proceeded with reforms.
1 February 2016Credit Agricole returns to GREECE as major shareholder in Alpha Bank
Credit Agricole, the French bank giant which ended its commercial
presence in Greece around three years ago when it sold Emporiki Bank to
Alpha Bank, is returning to Greece, this time as a major shareholder in
Alpha Bank.
8 December 2015STATISTICS: GREECE, 3Q2015: The decreases reported on motor classes pushed the market down by 3.6% y-o-y
The Greek insurers reported gross written premiums of EUR 2.72 billion in 3Q2015, down by 3.6% y-o-y, according to a quarterly report published by the Hellenic Association of Insurance Companies (HAIC). Non-life insurance GWP accounted for 51% of the total - EUR 1.38 billion, or 8% less y-o-y, while the life insurance sector was up by 1.4%, reaching EUR 1.33 billion (49% of total insurance market).
25 November 2015GREECE: NN Hellas finds opportunities, despite economic difficulties
Business confidence and investment has been undermined by political,
social and economic instability, along with deteriorating liquidity
conditions. World Finance found out how NN Hellas has weathered the
storm.
12 November 2015STATISTICS: GREECE, 1H2015: Life insurance maintained the market on a positive track
The Greek insurers reported a GWP of EUR 1.96 billion in the first half of 2015, as compared with EUR 1.92 billion a year earlier, according to the 1H2015 Report published by the Hellenic Association of Insurance Companies (HAIC). The Report published by HAIC includes the figures for 57 insurers accounting for 95.8% of the insurance market's full data for 2014. Of these, 21 were active in the life segment (97.4% market share) and 47 were active in the non-life segment (94.4% market share).
26 August 2015Insurers to weather GREECE-fuelled market volatility - AM Best
Euro zone insurers are well placed to weather volatility around a
potential Greek exit from the currency bloc, although contagion to other
countries would be more problematic, ratings agency AM Best said.
13 July 2015
