Location: - Southern Europe; - borders Ionian Sea and Mediterranean Sea; - peninsular country, possessing an archipelago of about 3,000 islands, dominating the Aegean Sea and the southern entrance to the Turkish Straits; - Neighbours: Cyprus, Turkey, Bulgaria, Macedonia, Albania, Italy.
Climate: - Mediterranean climate with mild wet winters and hot, dry summers; - snowfalls do occur occasionally during the winter.
Natural Hazards: - severe earthquakes; - droughts; - wildfires.
Hellenic Bank signed a share-purchase agreement with MetLife Services Cyprus Limited for the acquisition of the entire participation interest of MetLife (equal to 27,5%) in the share capital of Hellenic Alico Life Insurance Company Limited.
At the end of June 2019, the Greek insurance market totaled EUR 2 billion, up by 3.9% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).
On May 28, the 12th Insurance Conference was held in Greece with participation of top insurance market executives and institutional players in the country, in collaboration with the financial & business portal banks.com.gr, the portal Insuranceworld.gr, and the magazine, Insurance World.
During 1993-2018, Greece insurers paid EUR 359 million for natural catastrophes claims. The 1999 earthquake was by far the most devastating and costly natural disaster, when a total of EUR 111 million in insurance indemnities were paid to the victims.
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).
After the failure of the previously announced acquisition attempts made by Fosun, Exin or Gongbao, it seems that a new opportunity to sell Ethniki - Hellenic General Insurance Co. presented itself to National Bank of Greece, with a bid launched by a consortium led by Hannover Re S.E.
The Greek insurers reported aggregate GWP of EUR 2.87 billion at the end of September 2018, up by 2.1% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC).
The National Bank of Greece (NBG) and the owner of the largest and the oldest Greek insurer - Ethniki - will ask the EU for more time to complete the planned asset sale under the EU-approved restructuring plan, according to sources quoted by international media.