STATISTICS: GREECE 1H2014: unit-linked insurance products pushed the life segment back on a positive track

The Greek insurers reported a GWP of EUR 1.93 million in the first half of 2014, as compared with EUR 1.97 billion a year earlier, according to the 1H2014 Report published by the Hellenic Association of Insurance Companies (HAIC). In the analyzed period, the non-life insurance GWP accounted for 54.9% of the total (EUR 1.06 billion, 9% less y-o-y), while the life insurance segment accounted for the remainder of the market (~EUR 870 million, or 7.57% more y-o-y).

On the life sub-segment, traditional policies decreased by 0.9% y-o-y, while the unit linked products reported a significant increase of 54%. In case of the non-life sector, all the important classes reported negative rates: MTPL (-11.7%), motor hull (-12.9%), and property (-8.3%).

The Report published by HAIC includes the figures for 58 insurers accounting for 94.6% of the total market. Of these, 21 were active in the life segment (98.7% market share) and 48 were active in the non-life segment (91.3% market share).

An extended analysis of the Greek insurance market evolution in 1H2014 will be available in the forthcoming issue of XPRIMM Insurance Report 1H2014, to be released on October, 19th, on the occasion of the Baden-Baden XPRIMM Reception (Kurhaus Casino, Runder Saal, 18:30 - 20:30 hours - register here).

Access www.xprimm.com and download 1H2014 Greece insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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